HOTLINE: The Guardian Media Group reports increase in profits

The Guardian Media Group reported an increase in profits to £36.9 million for the year to the end of March 2003. Profits rose from £9.8 million in the previous year on the back of revenue growth of 15 per cent to £526 million. GMG said national newspaper advertising was up between 2 per cent and 3 per cent in the first quarter.

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