Daily Mail and General Trust (DMGT) said this morning that full-year results would be in line with expectations, driven by strength in the business-to-business operations.
DMGT, which publishes the Daily Mail and the Mail on Sunday, said underlying revenue for the year to the end of August was up three per cent on the previous year, boosted by an eight per cent increase in revenue from its B2B publishing arm.
Circulation revenue at its national titles rose four per cent after it raised prices and gained market share, it said, more than offsetting a one per cent drop in underlying advertising revenue.
But the picture was bleaker at its local titles, where underlying advertising revenue fell eight per cent in what it said was a difficult market.
Martin Morgan, chief executive of DMGT, said this morning that the business had also been propped up by the summer Olympics.
City A.M. Reporter