DMGT sees slowing in revenue decline

Daily Mail & General Trust says the decline in advertising revenues for its national and regional newspaper divisions slowed in the last quarter.

Daily Mail
Daily Mail

The publisher says revenues at Associated Newspapers, which publishes the Daily Mail and The Mail on Sunday, dipped 12% year on year in the three months to 30 June, an improvement on the 23% slump last quarter.

The decline in regional newspaper revenues slowed to 33% in the quarter, compared with the 36% year-on-year decline last quarter.

UK digital revenues dropped just 6% on last year, the group says, with visitors to the DMGT’s regional sites rising 37% year on year.

Revenues across the firm’s entire business slipped 13%, with newspaper revenue declines partly offset by a relatively strong performance from its business-to-business operation, down just 3%.

Martin Morgan, DMGT chief executive, says “decisive” action taken earlier this year, has helped offset “weak” trading conditions.

DMGT has cut net debt to £1.14bn from £1.22bn in the quarter and has also been making job cuts, announcing it was axing 1,000 jobs at its regional newspapers in March.

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