Cost-savings strategy gets Hot Press back in the black

THE publisher of Hot Press magazine has confirmed that the magazine has returned to profit this year following a cost-saving strategy in response to trading losses “over the past few years”.

Cost-savings strategy gets Hot Press back in the black

According to accounts recently returned by Osnovina Ltd to the Companies Office, the company’s accumulated profits declined by €75,639 from €678,715 to €603,076 to the end of December last year.

However, the rate of the losses sustained last year slowed compared to the “significant losses” incurred in 2008 when the company’s accumulated profits decreased sharply by €322,000 from €1m to €678,000.

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