By Max Clarke
Revenue at the Daily Mail & General Trust (DMGT) edged up 1% over the past 11 months, despite declining revenues from the media conglomerate’s consumer advertising environment.
The increased cost of newsprint has also eroded profits for the The Daily Mail & General Trust (LSE: DMGT) publications, which include the Daily Mail, Mail on Sunday and the Metro.
"DMGT has delivered a solid revenue performance over the year to date, driven by continued strength in our B2B operations offset by difficult market conditions for our consumer businesses,” commented the Trust’s Chief Executive, Martin Morgan.
"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.”
DMGT used the growing B2B share to reduce company debts as well as adding Ned Davis Research to its portfolio, sending share prices up 5.20 points, or 1.5%.
"Going forward our focus will remain on driving organic growth, operational and financial efficiency and pursuing an active portfolio management approach," concluded Morgan.
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