Condé Nast’s UK profits drop by more than a third as sale of Vogue publisher ruled out

Newsstand sales and other subscriptions account for about 14% of Condé Nast’s total revenues. Photograph: Nathaniel Noir/Alamy

Profits at Condé Nast’s UK arm slumped by more than a third last year, according to figures published shortly after the billionaire family that owns the luxury magazine group and titles from Vogue to GQ ruled out a sale.

The publisher, which enjoyed a bumper 2024 after booking £64m in proceeds from the sale of its UK headquarters Vogue House in London, saw pre-tax profits excluding exceptional items tumble 36% from £28m that year to nearly £18m last year.