DMGT feels benefit of Olympics

THE Daily Mail and General Trust said good growth in its business-to-business division and a resilient performance from its national newspapers were keeping it on track to meet market expectations.
By The Newsroom
Published 26th Sep 2012, 07:00 BST

Chief Executive Martin Morgan said the group had delivered a solid revenue performance, driven by strength in its B2B op- erations.

“The consumer business delivered a resilient performance and also benefited from incremental revenue from the Olympics,” he said yesterday.

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The publisher of the Daily Mail and Mail on Sunday said underlying revenue increased 3 per cent in the 11 months to end-August, entirely due to an 8 per cent increase at its business publishing, information and events unit.

Underlying revenue at its consumer division, which includes both its national and local titles, was flat, it said.

Circulation revenue at its national titles rose 4 per cent after it raised prices and gained market share, it said, more than offsetting a 1 per cent drop in underlying advertising revenue.

But the picture was bleaker at its local titles, where underlying advertising revenue fell 8 per cent in what it said was a difficult mar-ket.

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The company said it expected the outcome for the year to end-September to be in line with market expectations, which for pre-tax profit stand between £240m and £257m, according to a company compiled poll.

Ad revenue across DMGT’s newspaper websites, primarily Mail Online, rose 72 per cent in the 11 months to the end of August.