Ad sales buoy Daily Mail firm
Publisher Daily Mail & General Trust (DMGT) said yesterday its flagship newspaper business rebounded strongly after the advertising crisis.
Underlying advertising revenues rebounded 13 per cent at its national newspaper division, led by the Daily Mail.
Sales for the third quarter rose six per cent, also helped by subscriptions to its publications maintaining pace.
Advertising sales at its regional newspapers – worst hit by the recession after classified property, recruitment and car ads sales dried up – fell four per cent.
Total revenues for the third quarter to 4 July were £508m, helped by a nine per cent underlying increase at the company’s business-to-business operations, which account for almost half of group sales.
Chief executive Martin Morgan said: “Trading in the third quarter has continued to reflect the generally positive trends in our international B2B and UK consumer media businesses, although we remain wary about the medium term outlook, particularly in the UK”.
DMGT said it would maintain its focus on cost control, as part of which it had closed regional titles and slashed jobs.
aDaily Mail’s Euromoney financial publishing unit last week reported a strong fiscal third quarter but said uncertainty remained amid signs of weakening advertising sales.