Future Of British Business
Surging Energy Costs Mean Some Newspapers Are Getting Thinner
- Paper prices have more than doubled since last year: Reach Plc
- Owner of Mirror, Express says company is ‘committed to print’
The price of paper in Europe has more than doubled since a year ago.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
The costs of printing newspapers in the UK soared this year amid paper shortages and spikes in energy prices, prompting the owner of the Mirror and Express tabloids to trim page counts.
The price of paper in Europe has more than doubled since a year ago, with the cost of newsprint reaching an “all-time high,” Reach Plc said Tuesday while releasing its first-half results. Adjusted operating profit declined 32% from the same period last year, and shares subsequently plunged as much as 29%.