Condé Nast UK profits fall 36% as family rules out sale

Summarised from 2 outlets · Updated 18 Oct, 10:19 · Archive

Profits at Condé Nast's UK arm fell 36% to nearly £18m last year, with revenues down 7%.

Profits at Condé Nast's UK arm fell 36% to nearly £18m last year, down from £28m in 2024. UK revenues dropped 7% to £70.6m, newly filed accounts showed. However, international revenues rose 18% to £29.7m, keeping total revenues nearly flat at £100m.

The publisher, which owns titles including Vogue, GQ, Vanity Fair, House & Garden and Tatler, enjoyed stronger results in 2024 after booking £64m from the sale of its headquarters Vogue House in Mayfair. A Condé Nast spokesperson said the decline reflected 'a period of planned investment in customised client solutions'.

Restructuring costs more than doubled from £1.9m to £4.3m, primarily due to severance costs as the publisher refocused 'editorial, commercial and business teams on the strategic goals'. Despite this, staff numbers remained almost flat, at 461 compared with 466 the previous year. City AM reports that changes to pension scheme projections and wage inflation also impacted profit.

The billionaire family that owns Condé Nast recently ruled out a sale of the company. The publisher said it remains profitable in the UK.

How it is being reported

• Condé Nast UK profits slump by more than a third as sale scrappedProfits at the UK arm of publishing giant Condé Nast fell by more than a third last year, according to new figures published after the family that owns the Vogue publisher ruled out a sale. The publisher saw pre-tax profits excluding exceptional items plummet 36 per cent from £28m in 2024 to nearly £18m last [...]City AM · 18 Oct, 10:06
• Condé Nast’s UK profits drop by more than a third as sale of Vogue publisher ruled outMagazine group points to restructuring bill but says it ‘remains profitable in the UK for another year’ Profits at Condé Nast’s UK arm slumped by more than a third last year, according to figures published shortly after the billionaire family that owns the luxury magazine group and titles from Vogue to GQ ruled out a sale. The publisher, which enjoyed a bumper 2024 after booking £64m in proceeds from the sale of its UK headquarters Vogue House in London, saw pre-tax profits excluding exceptional items tumble 36% from £28m that year to nearly £18m last year. Continue reading...The Guardian · 18 Oct, 08:00

In this story: Condé Nast · Vogue · GQ · Vanity Fair · Tatler · Vogue House · London · Mayfair

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