Y Mail & General Trust (DMGT) will see its full-year profits slip after taking a hit from a faltering consumer advertising market.
Ad sales at its national newspaper business were robust, but were offset by torrid trading at its regional operations, which saw revenue fall 11 per cent in the last quarter.
Online ad sales continued to soar, with MailOnline, now one of the world’s most popular news websites, contributing to a 54 per cent leap.
The firm’s business unit, which hosts events and provides information on property, financial and other markets, also performed well, seeing its underlying revenue jump nine per cent.
However, the consumer division is expected to drag the firm’s full year figures to the bottom end of forecasts.
Chief executive Martin Morgan said: “Despite our continued focus on operational efficiency, the weak consumer advertising environment means that full year group operating profit will be lower than last year.”