DMGT reports 20% lift in profits

LONDON - The Daily Mail and General Trust, publisher of the Daily Mail and Mail on Sunday has posted a 20% boost in its pre-tax profits in the six months to 4 April, despite revenue falling 10%.

Owner of Daily Mail reports 20% lift in profits
Owner of Daily Mail reports 20% lift in profits

Operating profit during the period was £144m as national newspaper revenues rose 11% year-on-year in the first three months of the year, while total regional advertising revenue dropped by 5%.

Group revenue was £974m a drop of 10% in comparison with the previous year’s total of £1,085m.

The group reported a 42% year-on-year increase in pre tax profits to £110m.

The closure of the free newspaper London Lite was a contributory factor to A&N Media, parent of DMGT's national and regional newspaper business, recording a 132% rise in profit due to cost efficiencies.

There were also 680 redundancies across A&N Media in the year.

The group's national newspapers recorded a 6% year-on-year drop to £427m, while digital revenues at the national division rose 20% to £5.4m during the first six months until April.

Northcliffe Media, the home of DMGT’s regional titles including the Derby Telegraph and the Essex Chronicle, recorded a drop on revenue of 9% year-on-year to £150m.

Operating profit climbed by 121% to £14m. In the UK operating profits rose by 262% to £12.3m. Revenues dropped 7% to £132m, with ad revenues down by 9% to £93m.

Meanwhile, DMGT's digital division, Associated Northcliffe Digital, recorded a rise of 5% to £41m.

Martin Morgan, chief executive of DMGT, said trading was ahead of expectations, and singled-out "excellent profit growth" in its business-to-business companies.

Talking about the division the newspapers sit, he added: "Our UK consumer businesses have achieved a sharp improvement in profitability reflecting the actions taken to reduce costs and to eliminate loss-making activities, but also thanks to an improved advertising market. We remain focused on driving profitable organic growth across the group."

Market Reports

Get unprecedented new-business intelligence with access to ±±¾©Èü³µpk10’s new Market Reports.

Find out more

Enjoying ±±¾©Èü³µpk10’s content?

 Get unlimited access to ±±¾©Èü³µpk10’s premium content for your whole company with a corporate licence.

Upgrade access

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an alert now

Partner content