DMGT enjoys advert revenue rebound

The group posted underlying pre-tax profits of 247m, against 201m a year earlier, thanks to heavy cost cutting and a rebound in advertising revenues.

It delivered the highest ever earnings at the Daily Mail and freesheet Metro, contributing to a 46 per cent profits improvement at the group's consumer titles.

Underlying advertising revenues rose 6 per cent in the Associated Newspapers division, but the embattled Northcliffe local and regional newspaper arm saw a 7 per cent slide amid ongoing difficult conditions.

Daily Mail and General Trust (DMGT) said it was "cautiously optimistic" of achieving another year of underlying growth as recent trends have continued.

Ad revenues in Associated Newspapers rose 9 per cent in the first seven weeks of the new year, although it said Northcliffe faced another tough year with recent revenues down 7 per cent.

DMGT is having particular success with its digital operation.