Digital stablemate the Independent, also owned by Evgeny Lebedev, reports seventh year of profitability

• Business live – latest updates

Losses at the Evening Standard have topped more than £100m, highlighting the financial pressure on the title, which last month stopped daily publishing in the capital after almost 200 years.

The Evening Standard, which has rebranded as the London Standard in a move to become a digital-first publication supported by a weekly print edition, reported a pre-tax loss of £20.6m in the year to 1 October 2023.