2010 highlights

GNM, publisher of the Guardian, Observer and
guardian.co.uk, delivered savings of £26.2 million
as it brought its cost base to a more sustainable level

GMG Regional Media, publisher of the Manchester
Evening News and its weekly sister titles, was
sold to Trinity Mirror plc for a total consideration
of £44.8 million

Emap delivered a strong profit performance, while the
shareholders agreed to reduce the level of debt in the
business to allow headroom for growth

GMG's investment fund performed strongly during
the year. Its gains largely offset the fall in GMG's
cash balance

Guardian.co.uk continued to grow its audience, reaching
a record 37 million unique users around the world

Following GNM’s review of weekend publishing,
the Observer relaunched with a new design and
four re-vamped sections

The Guardian’s paid-for iPhone app proved a great
success, achieving more than 100,000 downloads
in the first three months after launch

Auto Trader continued to perform strongly. The
automotive classifieds business now delivers 90%
of its profit through its digital operation