DC Thomson, the publishing group behind the likes of Stylist, Press & Journal and The Beano, has surged back into profit and recovering from a £161m loss.
The Dundee-headquartered business has jumped to a pre-tax profit of £93.8m for the year to 31 March, 2024, according to newly-filed accounts with Companies House.
The results also show that its revenue dipped from £161.4m to £153.8m over the same 12-month period.
DC Thomson was founded in 1905 and also publishes The Sunday Post and The Dandy.
During the year the company’s headcount reduced from 1,603 to 1,314.
A statement signed off by the board said: “Demand was adversely affected by pressure on UK consumers’ real disposable income and consumer confidence.
“As a result, we have continued the theme of efficiency in trading operations through staff changes and training programs.
“This involves the use of technical solutions and the use of artificial intelligence tools as they develop.
“This however is done with a look to the culture of our business, which will always prioritise quality journalism and content creation.
“Our transformation journey is showing momentum, and it is understood that it will take time and investment.
DC Thomson has ‘resilient print income’
DC Thomson said its revenue fall was due to the closure of Bunkered Golf Breaks, Pure Radio and several magazine titles in the year which “were approaching the end of their commercial life”.
The company’s current news titles also include The Courier, Evening Telegraph – both in Dundee – as well as Energy Voice.
On the magazine side, its titles also number Puzzler, The People’s Friend, The Scots Magazine, My Weekly and This England.
It also runs the Kingdom and Original radio stations.
DC Thomson’s revenue from the newsstand fell by three per cent to £51.6m while subscriptions rose by two per cent to £40.6m. Advertising fell by one per cent to £17m.
The company added: “Our strategy is unchanged as we focus on offering value to our customers.
“Our portfolio of digital products continues to grow alongside digital subscriptions.
“In print, the sectoral decline continues but we maintain a resilient print income, balancing customer value with price increases supported by a strong home delivery service in our local community.
“We have long years of history and tradition as being valued by the communities we operate in.”
