Guardian Media Group's Year End Report: Another financial disaster!

The Guardian circulation has dropped to just 216,000, and is now ranked a pitiful 12th in print circulation among UK dailies.

Guardian Media Group reported profit before taxation of £9m for the year ending April 3, 2011.

And, today, they published the latest official report on the GMG’s performance for the year ending April 1, 2012, and…drum roll please…they recorded a loss before taxation of £75.6m, a 940% decrease!

Read it and ~~weep~~ laugh.

In the meantime, does anyone have ideas on how the Guardian can achieve financial solvency?

Well, Guido Fawkes noted that Guardian CEO Andrew Miller wrote the following to put a good spin on their continuing failures.

“Yet despite this fantastic year of great journalistic success we can not overlook the financial challenges we face at GNM. As I said in July’s staff briefing, our aim is to reduce GNM’s losses to a sustainable level within five years and it is to be expected that as we invest in the future of the Guardian, we will see some increase in GNM’s losses. This is indeed the case for 2011/12.”

So, my suggestion?

The Guardian may wish to consider playing the following video in a continuous loop throughout their London offices.

[youtube=http://www.youtube.com/watch?v=-xP0A3lyrpw]