Record profits for Bonnier

Swedish media giant Bonnier has reported record profits for 2005, mainly due to income from the sale of some of its businesses.

Profits rose by nearly 1.8 billion kronor to 2.6 billion, Bonnier’s largest profit ever. Operating profits, excluding proceeds from the sale of Bonnier’s stake in Finnish Alma Media and the Business Information operations, were 141 million kronor.

Much of the improvement came thanks to increased profitability at the group’s newspaper division, which includes Dagens Nyheter and Sydsvenska Dagbladet, where profits were up 170 million kronor. All the papers showed improved results except for Expressen which had invested heavily in digital media, Bonnier wrote in a press release.

Newspapers and magazines together lost 101 million kronor.

Turnover for the Bonnier group increased by 2 percent during 2005, reaching 20.1 billion kronor.

TT/The Local