Condé Nast U.K. Posts First Loss in 20 YearsThe company said an internal restructuring took a toll on annual profits, but revenue in the region fell, too.

[Collection]Condé Nast Britain is not immune to the troubles of the wider magazine publishing industry has been facing for the past several years. The publisher, which is headquartered in London and is part of now-official plans to fully integrate with Condé Nast in the U.S., lost just under 14 million pounds in 2017, according to a regulatory filing with Britain’s Companies House, a national public registry. According to records, this is the first loss for the Condé arm since 1995. A majority of the loss was attributed to an internal reorganization, which clearly predates the recent decision to announce the U.S./Condé Nast International integration and included a number of leadership changes, like those to British Vogue. Edward Enninful was brought in to replace Alexandra Shulman there, and longtime staffers like Lucinda Chambers were cut. The company also consolidated all operations into Vogue House in London and whittled away about 60 staffers during the year. Nevertheless, total staff costs grew to 47.2 million pounds from 42.6 million pounds. Overall, revenue fell 6.6 percent to 113.5 million pounds. A report for the rest of Condé Nast International is expected next month and could paint a rosier picture of non-U.S. operations, which have been under the

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