Dacre to stay on as DMGT profits rise

The Daily Mail has denied editor Paul Dacre is about to step down amid continued speculation about his health. The news came as parent company Daily Mail & General Trust reported an 11% rise in pre-tax profits to £288m for the year to September 30.

DMGT finance director Peter Williams said today (Wednesday) that Dacre was in “extremely good health” and had “no intention” of stepping down. DMGT has also confirmed that it has appointed head of its business information unit Martin Morgan to succeed Charles Sinclair as chief executive when Sinclair retires in September next year.

Despite the 11% rise in pre-tax profit, operating profit at DMGT’s Associated Newspapers division – which includes the Daily Mail and London Evening Standard – fell by 16% to £83m. The company blamed the drop on competition from the London evening newspaper market, disappointing results from Teletext, and digital investment.

However, advertising revenues at Associated increased by 8%, buoyed by a 3% uplift in print advertising to £447m and a 6% rise in display advertising to £350m.