‘Volatile advertising market’ inflicts a record £69m loss upon Guardian Media Group

The Guardian Media Group (GMG) has endured its worst ever financial results, announcing a pre-tax loss of £69m.
Boasting an overall revenue of £209.5m for the year ending 3 April 2016, down from £217.5m in the previous period, the company’s losses dropped precipitously from £14.7m in 2015 to £68.7m.
To return to profit, it has embarked upon a three-year business plan, launched by David Pemsel, chief of GMG and Katharine Viner, editor-in-chief, making the decis