Profits setback for Daily Mail owner

The owner of the Daily Mail yesterday warned weak advertising and circulation revenues would leave operating profits lower than a year ago.
By The Newsroom
Published 28th Sep 2011, 07:00 BST

Daily Mail and General Trust, which also owns the Mail on Sunday and more than 100 regional titles, said its consumer division saw a 3 per cent dip in revenues, including a 1 per cent fall in advertising sales, in the 11 months to the end of August.

Chief executive Martin Morgan said: “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.”

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However, revenues from the group’s business-to-business operations were up 8 per cent, helping lift overall group revenues in the period by 1 per cent.

Analysts expect full-year operating profits of £293m for the year to September, compared to £303m last year.

DMGT increased the weekday cost of the Daily Mail in July by 5p to 55p in a bid to offset the continuing high cost of news- print.