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British newspapers have yielded a loss to the Russian Businessman
9.07.2012 16:08
British newspapers have yielded a loss to the Russian Businessman

The company Lebedev Holdings, controlled by Russian businessman Evgeny Lebedev has reported a 22.5% increase in pre-tax losses to £27.4m in the year to 2 October, reports The Independent.

Lebedev Holdings publishes the British newspapers the Independent, Evening Standard and i.

According to Lebedev Holdings the Independent and cut price national i made a pre-tax loss of £18m. The Evening Standard, which is 70% owned by Lebedev, made a pre-tax loss of £8.9m in the year to 2 October – a significant improvement on the prior year loss of £20.1m.

Alexander Lebedev acquired the Independent, Evening Standard in 2009-2010, which were unprofitable at that moment.  the Independent cost the businessman just £1.

Author: Irina Fomina

Tags: Russian business     

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