Regional slump weighs on Daily Mail owner

Business to business revenue and events has supported growth at the Daily Mail’s parent group, but its regional news division has seen revenues slide.

The Daily Mail and General Trust said revenues from business publishing such as its Euromoney Institutional Investor arm were up 11 per cent in the five months to the end of February, with ten per cent underlying growth.

But advertising revenues in Northcliffe Media, its regional newspaper division, fell eight per cent and circulation revenues were down three per cent, it said in its trading update ahead of its interim results out in April.

The fall was led by a 27 per cent fall in recruitment adverts and a 12 per cent drop in notices, it said.

Other divisions, such as consumer business A&N Media and its national news division Associated Newspapers saw minor increases and national newspaper circulation revenues fell two per cent.

DMGT also warned that continued uncertainty over the medium term outlook, particularly for consumer-facing businesses, given the UK’s external economic environment and fragile consumer confidence, would continue to weigh on the business.

It will publish interim results on 3 April.