The Economist strong against print turmoil

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• Operating profit up 26%
• Worldwide circulation over 1 million
  
• Advertising revenue up 29%
  

Hong Kong - In the face of weakening media budgets and a general slowdown in the print sector, The Economist has seen its yearly revenues jump 17% with its online portal recording a jump in ad revenue of 29%.

In the 12 months to March 2009, the magazine reported profit increase of 26% to US$91.4 million, with worldwide readership exceeding 1 million.

The company also performed well in Asia, particularly India where its circulation grew 37%.

"The circulation growth that we have achieved in India is due to a series of well-planned and executed brand and subscription marketing activities," Christopher Luk, brand & communication manager Asia Pacific, said.

In China, The Economist Intelligence Unit helped to improve growth. A new structure implemented last November has seen more staff based in Beijing and Shanghai, with sub-regional managing director now overseeing the China and Taiwan offices. 

The Economist said it will continue to boost its China operation.

In addition, the group said it remains strong in advertising revenue despite the overall drop in ad spend. In the past year, the magazine's advertising revenue grew almost 30%.