Underlying revenue at Daily Mail publisher Daily Mail & General Trust (DMGT) fell 15 per cent during the last quarter, as circulation of consumer print titles fell seven per cent.
DMGT reported group revenue stood at £304m in the three months to 31 December 2020, down an underlying 15 per cent.
The publisher, which also owns the Metro and the ‘I’, suffered particularly with its events business in the first quarter of 2021, with reported growth in the three months to 31 December 2020 down 95 per cent. No major physical events were held due to Covid-19.
Consumer media also suffered, with total underlying revenue falling by 13 per cent. Advertising revenues decreased by an underlying 16 per cent with 8 per cent growth in digital advertising more than offset by a 38 per cent decline in print advertising
The losses at the publisher were partially offset by growth in digital advertising, which saw growth of eight per cent, and a strong performance of B2B brand UK Property Information, of which revenue grew by 18 per cent.