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DGMT parachuted in Auckland, the former managing director of Metro, to try and turn around its regional newspaper operation which recently reported a 35% fall in operating profits in the six months to 3 April.
Its latest figures imply a 95% fall in operating profits in the fourth quarter of 2003.
"Significant cost savings during the year led to a fall in operating loss before exceptionals.
Earlier this year, LVMH, a luxury conglomerate, reported its first fall in operating profits for five years.
M&C Saatchi today reported a 25% fall in operating profits year on year to £10.4m for 2009.
Tesco is expected to reveal a sharp fall in operating profits on Wednesday amid the fierce supermarket price war triggered by the German discounters Aldi and Lidl.
Similar(35)
Dow Jones, publisher of the Wall Street Journal, reported a 56% fall year-on-year in operating profits in the first nine months of 2002.
The company's $25.4 million in operating income fell in the middle of the forecast range.
A fall in the operating grant from Defra accounts for £1.5m of Kew's financial woes.
Underlying operating profit rose 4.8% in the past year and Sainsbury's said the launch of mortgages will mean a 10% fall in underlying operating profit in the year ahead.
Reporting a 4% fall in underlying operating profit to £19.9m, Righmove says the number of advertisiers has started to pick up since the start of the year and average spend per advertiser was up 1% from 2008 at £305 per month.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com