Connock leaves Ten Alps after losses widen

ALEX Connock has left his role of chief executive at media group Ten Alps after the business incurred a £22.6m pre-tax loss.

The company, which grew rapidly by acquisition with Connock at the helm, produces television programmes and publishes business magazines.

But it also secured lucrative public sector jobs and has suffered as a result of Government cutbacks, such as the cancellation of its Teachers’ TV contract in April.

During the 12 months to March 31 revenue at the group – co-founded by Bob Geldof – slumped by 21% to £51.9m. Pre-tax losses soared to £22.6m, partly due to a £14.4m impairment.

The business, which has its publishing headquarters in Macclesfield, described the year as “extremely tough”. During the period it embarked on extensive restructuring programme in a bid to simplify its structure and strip out costs.

In a statement Mr Connock said: “There is huge talent across Ten Alps, and I wish everyone success. At the same time I am really excited about new projects in TV and online – particularly in Manchester.”

Chairman Peter Bertram said: “The board is very grateful to Alex for his enormous contribution to the Company and we wish him well on his future.”