In the July to December ABC figures, which include subscriptions and bulk copies, the magazine saw its circulation fall by 40 per cent to just under 80,000.
Dennis Publishing sold Maxim to the US private equity group Quadrangle in July last year, and under the terms of the deal, Dennis is contractually obliged to publish the title under licence until 2012.
Simon Clark, the Maxim publishing director, said: “My focus is moving forward. I don’t feel that Maxim needs turning around.
"It has attracted more readers online and in print than ever before. As a brand we have almost 1.5 million readers a month online and in print.”