Daily Mail group cautious on outlook

MEDIA group Daily Mail & General Trust said its business-to-business units drove first-half underlying operating profit up 20 per cent, but it remained cautious about the outlook, especially in Britain.
By The Newsroom
Published 27th May 2010, 10:32 BST

The group, which publishes newspapers including the Daily Mail, supplies financial information and runs exhibitions, said trading was ahead of its expectations as the advertising market improved and cost cuts and disposals helped profit.

Adjusted operating profit was 144m, beating market expectations of 142m.

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Revenue fell three per cent on an underlying basis to 974m for the six months to April 4, Daily Mail said.

It added advertising trends in Britain were improving and should move into growth in the second half, unless a new downward trend emerged. In the second quarter, national ad revenues rose 11 per cent and regional ad sales fell five per cent.

"Whilst we remain cautious about the outlook, particularly in the UK, we are increasingly well positioned to weather current economic uncertainties and to take advantage of improved conditions as they materialise," the company said.

Rival newspaper groups Trinity Mirror and Johnston Press recently reported regional advertising declines of five per cent and seven per cent respectively for the quarter.

Related topics:Britain