Still profitable, but Economist warns of challenging year ahead

The Economist Group, publisher of the Economist, has posted pre-tax profits of £56m, after benefiting from a cost-cutting programme. However, according to a report in MediaWeek UK, the group warned of a challenging year ahead, with lower advertising and sponsorship.Pre-tax profits were up year on year from £47m to £56m, while revenue rose from £266m to £313m, in the year ending March 31, 2009.