Expressen's Profits at SEK 100 million First Eight Months

Swedish evening daily Expressen continues to have a strong 2010. Profits for the first eight months were over SEK 100 million, which is double profits compared to 2009 (SEK 49.1 million).

Revenues increased to SEK 1.03 billion (compared to SEK 1 billion in 2009) and costs decreased to SEK 931 million compared to SEK 957 in 2009.

"Above all we've had a strong development in our ad revenues," says Expressen CEO Bengt Ottosson.

Expressen's ad revenues increased by roughly 23 percent. The increase is approximately the same for the web as for print. Revenues from the newspaper increased while ancillary products, which were strong in 2009, were weaker.

"Evening newspapers usually are in the forefront when advertising revenues change and this is the case now," says Ottosson. "Evening papers have taken a share of the advertising market. The World Cup and the royal wedding have also had a positive affect."