Guardian Media Group Cuts Losses By More Than a Third

The parent company of the Guardian and Observer cut its losses by more than a third to £45m in the last financial year and more than quadrupled its number of paying members, as it seeks to break even within two years.

Guardian Media Group said total revenues increased by 2.4% to £214.5m in the year to 2 April, thanks to the popularity of its membership scheme, one-off contributions and growth in international operations.

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