The Independent, Independent on Sunday and 20p stablemate i slashed losses to less than £12m last year – and are on track to fall below £5m this year.
It is also good news for stablemate the London Evening Standard, which saw profits soar from £82,000 to almost £2m year on year in 2013, as the shift to a free strategy four years ago has paid off.
Evgeny Lebedev’s Independent Print Ltd, the publisher of the titles, is expected to report an operating loss of £12.3m in the 12 months to September 2013.
This is a massive improvement on the £17.5m operating loss reported in 2012 – and the £22m black hole just two years ago.
Read the rest at Independent titles slash losses by almost a third | Media | theguardian.com.
