(MENAFN) The Guardian and Observer newspapers logged a loss of USD30.05 million for the year to 29 March, despite a 20 percent increase in digital sales at Guardian media, The Drum reported.
The publisher insisted on describing the loss as an 'investment in the future' and is set at continuing its investments in editorial, commercial activities and international expansion, despite losses.
"Thanks to our balance sheet transformation, we can look forward to a period of targeted investment in the world-class journalism, digital excellence and increasingly international readership," GMG editor in chief said in a statement.
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