Condé Nast UK profits slump by more than a third as sale scrapped
Profits 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 [...]
The UK division of publishing giant Condé Nast experienced a 36% drop in pre-tax profits, falling from £28 million in 2024 to nearly £18 million in 2025, according to recent financial filings. This significant decline came after the family controlling Condé Nast, the Newhouse family, ruled out a sale of the media business. Despite this negative news, the publisher managed to maintain a relatively stable total revenue of around £100 million, with revenues from international operations growing by 18% to £29.7 million.
The reduction in UK revenues was largely attributed to a 7% drop, from £75.9 million to £70.6 million.
Condé Nast's spokesperson highlighted the company's continued profitability and attributed the profit decrease to planned investments in customized client solutions, higher restructuring costs, and the outcome of a strategic refocusing plan. These restructuring costs more than doubled from £1.9 million to £4.3 million, primarily due to severance expenses.
The publisher noted that there were no substantial restructurings in the UK business in 2025, with only isolated redundancies and no overall decline in headcount as hiring continued across the business. The family's decision not to sell the company stems from a long-standing commitment to media ownership, as stated by Steven Newhouse, the chair of the Newhouse family holding company Advance.
Newhouse expressed that while media ownership may not appeal to certain non-media investors, it has been a part of Condé Nast for a century.
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