By Jonathan Davies

The Daily Mail has said its profits will be lower than expected as a result of falling advertising revenue.

The newspaper's publisher, Daily Mail and General Trust (DMGT) said its full-year results would likely to be at the lower end of expectations.

DMGT's shares fell 7% as it blamed a "marked deterioration in the UK print advertising market".

Revenues at DMG Media fell 3% in the third quarter, following declines of 6% and 7% in the first two quarters.

"Given the weaker than anticipated UK print advertising market for DMG media and the more challenging market conditions for B2B [business to business publishing], the outlook for the group's full year results is now towards the lower end of market expectations," DMG said in a statement.