The Guardian doubles Australian profits to $1.3m as staff mull industrial action
Unionised Guardian journalists voted last week in favour of securing a protected action ballot, allowing them to pursue various actions, including an indefinite strike.
The Australian outpost of The Guardian, one of the world's largest English language newspapers, surpassed $40 million in revenue last year and doubled its local profits, as a standoff between journalists and management over pay threatens to escalate.
GNM Australia Pty Ltd, the local subsidiary of The Guardian’s publisher, Guardian News & Media, doubled its local profits to $1.27 million for the year to 31 March, up from the $619,492 posted the previous year, according to recent documents filed with the corporate regulator.
The Guardian’s local operation, which relies on a mix of voluntary reader donations, digital advertising and philanthropic grants, generated revenue of $40 million, up on the $37 million booked the year prior. It employs about 233 staff in Australia.
The publisher raked in $11.9 million from reader membership subscriptions, $16.1 million in advertising revenue, $8.2 million from reader donations, and $2.3 million in philanthropic and grant revenue, the documents show.
