The Neue Zürcher Zeitung media group, owner of the eponymous newspaper, has reported a 3.5 per cent drop in its annual turnover for 2001 to SFr513.1 million.This content was published on March 23, 2002 - 16:46
The decline is due to a sharp downturn in advertising revenue, said the company on Saturday. Advertising sales, which account for around half of the overall revenue, fell by 10.5 per cent, or SFr29 million, in 2001 compared to the previous year.
Profits rose very marginally by SFr100,000, compared to SFr50,000 in 2000.
The least profitable products included the local newspaper, St Galler Tagblatt, and the regional television channel, Tele Ostschweiz, while the NZZ and Bund newspapers performed well.
Investments made in the NZZ's online service, NZZ online, and the ticketing service drove up operating costs, which rose by 5.8 per cent in 2002.
The group said heavy investments in its newly-launched Sunday edition, NZZ am Sonntag, would also affect this year's figures.
swissinfo with agencies
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