The Telegraph Media Group has reported a record loss of £244.6 million for 2023, primarily due to £277.6 million of previously unidentified debt. This financial shortfall, described as a £278 million black hole, is attributed to loans extracted by the Barclay family, which are unlikely to be repaid. Despite this significant loss, the company's operating profit rose by 35.2% year-over-year to £54.2 million.
Telegraph falls to loss of £240m as a result of loans to Barclay family ‘unlikely to be repaid’ https://t.co/vMQ5omPxW5
Telegraph warns £278mn loans to Barclay family companies may never be repaid https://t.co/oUgSghMQmk
Telegraph falls to loss of £240m as a result of loans to Barclay family ‘unlikely to be repaid’ https://t.co/mLDdfeQ605
The Telegraph has revealed a £278m black hole in its finances as a result of loans extracted by the Barclay family which are unlikely ever to be repaid https://t.co/6AKWgZu2Ql
Telegraph Media Group reports a record £244.6M loss in 2023 due to £277.6M of previously unidentified debt, despite operating profit rising 35.2% YoY to £54.2M (@bron_maher / Press Gazette) https://t.co/Kt20s5z5ou https://t.co/sxFIGEOku4
Telegraph reveals Barclay family left £278m black hole https://t.co/OA33j47OFP