Bauer Media posted a profit for 2018 as the magazine publisher cut editorial and marketing expenses on the back of weaker advertising revenue.
Documents filed with ASIC show the Australian operations of the German multimedia conglomerate with revenue to December of $224.3 million, down 13.7% from $260 million the year before.
Advertising revenue fell 9% to $142 million from $155.9 million in the previous 12 months and circulation dropped 17% to $48.7 million from $58.7 million in 2017.
After tax profit was almost $6.3 million compared to an $11.2 million loss in 2017.
Editorial costs were down 17% to $39.58 million from $47.67 million, and marketing expenses fell 20% to $58 million from $72.6 million.
The publisher of the flagship The Australian Women’s Weekly has been extending its stable.
Bauer last month launched a new print monthly, It’s Your Day, an extension to the weekly Women’s Day publication.
The 108-page glossy magazine centres around “light-hearted and informative” content, including real-life stories, food, wellbeing, fashion and finance.
The launch came after Fiona Connolly, associate publisher and editor-in-chief of Woman’s Day, travelled to metro and regional Australia to test the demand for the magazine.
Last year Bauer axed Cosmopolitan magazine after 45 years on Australian shelves.
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