Channel 5's record figures lift Northern & Shell into profit

Northern & Shell, the owner of Express Newspapers and OK magazine, reported a pre-tax profit of £43.9 million in 2013, up from £20.1 million pre-tax loss in 2012 after record figures at Channel 5.

Richard Desmond: owner of Express Newspapers and founder of Northern & Shell
Richard Desmond: owner of Express Newspapers and founder of Northern & Shell

According to accounts filed at Companies House the group reported revenue of £610.9 million in 2013, down 1.8 per cent year on year from £622.1 million in 2012.

Northern & Shell, which also owns the Daily Star newspapers, made an operating profit of £37.1 million in 2013, up from an operating loss of £5.6 million in 2012.

The success of Channel 5 is cited as having a significant part to play in the company’s recovery. The channel made an operating profit of £32.6 million in 2013, in contrast to the £16.6 million loss it made in 2012.

Northern & Shell said Channel 5 brought in record revenue of £359.7 million, up 10.8 per cent year on year, and increased its share of the TV ad market by 10 per cent year on year, up from 8.0 per cent in 2012 to 8.8 per cent in 2013.

The report also reveals that Viacom paid £463.3 million for Channel 5 when it purchased it in May this year.

Northern & Shell’s publishing arm, which houses the Daily Star, the Daily Star Sunday, the Daily Express, the Sunday Express and magazines such as OK and New, reported revenue of 257.3 million, down 10.0 per cent.

However, the publishing business increased its operating profit of £33.8 million, up 43 per cent year on year.

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