In its half-year results to 24 September 2017, the group posted a slight sales increase of 2% to £4.83bn, while operating profit both before and after transformation costs were down sharply, from £206m to £89m and £148m to £26m respectively. Royal Mail put this down largely to an increase in its ongoing UK defined benefit pension service costs of £114m. Pre-tax profit fell 30%, from £110m to £77m, but post-tax profit almost doubled to £168m - largely due to a tax credit related to the closure of its pension scheme to future accruals. Net debt was down 15.5%, from £452m to £382m. The group expects its net cash investment to fall to £450m for the full-year, down from £590m per annum for the past three years. Chief executive Moya Greene described the first half as successful despite the “headwinds we are facing”. Click Read More below for additional information.
Sports Illustrated is reducing the number of issues it publishes even further and will become a monthly magazine printed on heavier stock paper next year.
The magazine has been slowly dwindling in recent years, moving from a weekly in 2015 to twice per month in January 2018. It’s now moving to one issue per month, plus four special issues and the Swimsuit Issue.
“We’re refining the exact schedule, but it will be essentially a monthly with four season-preview issues and the SI Swimsuit for a total of 17 issues,” said co-editor Steve Cannella, who moved into the job last month as part of a shake-up that saw 40 staffers — including 13 from the editorial side — axed.
“The age of the weekly is over,” Cannella said of the change, first reported by Yahoo Finance Wednesday. “But we’re still committed to premium storytelling.”
more at source: https://nypost.com/2019/11/13/sports-illustrated-to-become-monthly-magazine-in-2020/