Sport Media reports loss
SPORT Media Group – the Manchester-based publisher of the Daily Sport and Sunday Sport – saw its shares tumble a further 30 per cent yesterday after revealing it had slumped into the red by £18.2 million in the year to 31 July.
The result compares with a profit before tax of 5.3m the previous year. News of the earnings slide came a day after Sport Media Group – formed by a 50m reverse takeover in 2007 – revealed it had breached one of its banking covenants.
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Friday 17 February 2012
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