Daily Mail owner resists ad downturn

LONDON - Daily Mail and General Trust, owner of the Daily Mail newspaper, has reported a 5% year-on-year rise in its third-quarter revenues, as its national newspapers offset ad revenue declines with circulation gains and its business divisions continued to grow.

Associated Newspapers, publisher of the Daily Mail, Evening Standard and Metro newspapers, registered a marginal 0.4% rise in total revenues to £243m.

Circulation revenues, which make up nearly half of Associated's print revenues, were 4% higher than the same period last year, reflecting the increase in the Daily Mail's cover price in April from 45p to 50p.

Total advertising revenues in the period dropped by 3%, with strong growth in digital ad revenues offsetting a fall in print revenues.

Northcliffe Media, the company's regional newspaper division, was worst hit. Its total revenues for the quarter were down 7% compared to the same period last year. Excluding acquisitions and disposals made in the prior year, underlying revenues were down 5% to £102m.

This fall came on the back of weakening ad revenues, which were 11% lower than the same period last year. All major ad categories fell, particularly in property, which dropped 25%.

However, DMGT's overall revenues increased due to continued growth in its business-to-business divisions.

DMG Information, which invests in and manages business-to-business information companies, reported a 6% rise in third quarter revenues to £78m.

The division continues to experience strong trading except in its two principal property information companies, Landmark (UK) and EDR (US), which are affected by the current market conditions.

DMG World Media, the company's events division, grew its revenues by 43% in the period to £49m.

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