Andrew Neil

In common with thousands of companies up and down the country, The Spectator magazine group availed itself of government funds to furlough some of its staff during the Covid crisis. We feared the impact of Covid on our finances, especially on our cash flow, as parts of our business slowed or ground to a halt, leaving some staff without work to do. We were grateful for government help, which allowed us to conserve cash and still see our people paid 80 per cent of their salaries. Though some parts of our business – especially the revenue lines from events, newsstand sales and advertising – have been hit badly by the crisis and ongoing economic downturn, overall our magazines have weathered the Covid crisis better than we expected.