Northern Rock cuts its annual losses to £111m

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VIRGIN’S lead sponsorship of the London Marathon continued into its second year in 2011.

The race raised over £50m for charity.

The group expanded its community programme in 2011 through its sponsorship of the Edinburgh Fringe Festival.

Following the acquisition of Northern Rock in January it also sponsors Newcastle United Football Club.

Virgin said that the sponsorship of the Edinburgh Fringe Festival and Newcastle United are part of its commitment to the local areas where the group is based.

It added that the two events also provide Virgin Money with valuable brand exposure at a national level.

The group has promised to extend the funding commitment that Northern Rock plc had with its foundation until the end of 2013.

Its not-for-profit online fundraising service, Virgin Money Giving, said that donations through the service almost doubled year-on-year to £48m and 4,800 charities have registered.