Condé Nast’s UK profits drop by more than a third as sale of Vogue publisher ruled out
News Source
•Sun, 18 Oct 2026 07:00:53 GMT
📰 What Happened
Profits at Condé Nast's UK arm fell by more than a third last year. Pre-tax profit, not counting one-off items, dropped 36 percent from £28 million to nearly £18 million.
UK revenue fell 7 percent to £70.6 million. Stronger sales abroad, up 18 percent to £29.7 million, kept total revenue close to £100 million.
The company said it was still profitable in the UK. It blamed the drop on planned investment and on restructuring costs, which more than doubled to £4.3 million.
🔍 The Backstory
Condé Nast publishes Vogue, GQ, Vanity Fair and Tatler. It had a strong 2024 because it sold its London headquarters, Vogue House, for £64 million.
Magazine publishers have struggled for years as readers moved online and advertisers followed. Print sales and subscriptions are now only about 14 percent of revenue.
The company's owners have ruled out selling the business. Staff numbers barely changed, dipping from 466, even as the restructuring bill grew.
🎯 Why It Matters
Magazines shape fashion and culture, and their health decides which titles survive. Falling print sales show how fast reading habits have changed.
Profits at Condé Nast's UK arm fell by more than a third last year. Pre-tax profit, not counting one-off items, dropped 36 percent from £28 million to nearly £18 million.
UK revenue fell 7 percent to £70.6 million. Stronger sales abroad, up 18 percent to £29.7 million, kept total revenue close to £100 million.
The company said it was still profitable in the UK. It blamed the drop on planned investment and on restructuring costs, which more than doubled to £4.3 million.
Condé Nast publishes Vogue, GQ, Vanity Fair and Tatler. It had a strong 2024 because it sold its London headquarters, Vogue House, for £64 million.
Magazine publishers have struggled for years as readers moved online and advertisers followed. Print sales and subscriptions are now only about 14 percent of revenue.
The company's owners have ruled out selling the business. Staff numbers barely changed, dipping from 466, even as the restructuring bill grew.
Magazines shape fashion and culture, and their health decides which titles survive. Falling print sales show how fast reading habits have changed.