Financial Times Plans To Print In Australia

17 May 2004

The Financial Times, continuing its global battle against rival The Wall Street Journal, plans to print and publish in Australia in the autumn.

The paper whose overseas sales outstrip its UK home market regards expansion abroad as the route to survival.

As a result it hopes to increase circulation in the growing financial centres of Sydney and Melbourne.

Australian readers normally have to wait 24-hours before receiving the Asian edition which is printed in Hong Kong and Singapore.

In future they will be able to have an up-to-date issue.

"We have always viewed Australia as an important market, both in terms of its domestic economy and as a significant player in international trade and investment," said John Ridding, editor and publisher of the FT's Asian edition.

The move follows a year long push into Asia Pacific where the paper sells around 30,000 copies.

Attempts to boost sales and raise the title's profile have included an online Mandarin language website for China and a dedicated FT Asia edition.

Along with the rest of the financial press the FT has been badly hit by a downturn in the business sector.

The paper is also fighting to halt its own financial decline.

Losses leapt last year by £9 million (15.8m; €13.3m) to £32m, as the global downturn hit sales and advertising revenue.

Advertising volumes have fallen by almost two-thirds since their 2000 peak.

Despite an expensive relaunch sales have also fallen. Year-on-year circulation in March was down 6% to just under 425,000.

Data sourced from: Media; additional content by WARC staff