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Telegraph owner profits up 11 per cent

Telegraph Media Group (TMG), the company that publishes The Telegraph newspaper, score a profits rise of 11 per cent last year. The group filed its accounts with Companies House yesterday, which showed pre-tax profits rose from £53.1m in 2009 to £58.9m a year later.

Turnover was up 2.1 per cent year-on-year to £323.8m, helped by the recovery of the advertising market. It added that revenue from circulation and digital operations all grew in 2010. TMG also pointed to cost-cutting and lower newsprint prices behind the company's rise in profits. The company said that on a 52 week basis – there were 53 in 2009 – the group's underlying operating profits were up by half in 2010, "a significant increase in the face of challenges across the industry".