Revenues of the Estonian media company AS Postimees, a holding of the Norwegian Schibsted group, totaled 11.4 million euros last year, up by 11 percent compared to the year-earlier 10.29 million euros.
The profit of the company was 450,000 euros compared to 154,000 euros in 2010.
Advertising income made up 5.4 million euros of the revenue. The income from subscription declined by about 1 percent in annual comparison to 5.07 million euros, it appears from the annual report.
The average print run of Postimees was 57,350 copies, down by 1.4 percent year-on-year. Data of the polling company TNS Emor show that the readership of all dailies decreased by around 8 percent in 2011, the company observes. Postimees had an average of 186,000 readers daily last year. The Russian-language version of the daily had 51,000 readers on the average, figures provided by TNS Emor show. The online news sites of Postimees had an audience of 850,000 at the end of last year, up by 20 percent from 2010.
The paper’s direct variable expenses (newsprint, printing, delivery) totaled 4.96 million euros in 2011, making up 44.6 percent of all expenses. Outlays on personnel (pay, extras, taxes) together with training expenses made up 3.59 million euros or 32.3 percent of total expenses. Payroll costs together with the social tax grew to 3.53 million euros from the year-earlier 2.93 million euros and the number of employees rose to 186 from 163 in 2010.
The sum total of expenses increased by 8.1 percent to 10.95 million euros.
Source: Estonian Review
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