Guardian and Observer narrow losses

The Guardian and the Observer narrowed losses to just over £30m in the year to the end of March, as income from print operations remained resilient and digital revenues grew by almost a quarter.
Guardian News & Media, which also includes theguardian.com, reported a loss before interest, tax and amortisation of £30.6m, broadly flat year on year.
Andrew Miller, the chief executive of GNM parent company Guardian Media Group, received £2.16m in total remuneration.
This was mostly due to a £1.4m payout relating to the sale of the company’s stake in the parent of AutoTrader in a deal that valued it at £1.8bn.
Miller previously spent a decade as finance chief at Trader Media Group, transforming it into a digital business, and GMG said the payment “was calculated in accordance with a contractual agreement and was directly linked to the sale price agreed”.
GNM reported a solid 6.8% rise in total revenues to £210.2m for the year to the end of March.
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