DMGT: MailOnline revenue up 61% while print editions take a hit

DMGT has reported that despite revenues dropping -6%, profit before tax was up 30% year on year to £137 million.

MailOnline saw a 61% revenue increase in the first half of 2013, while print editions declined by -6%.

Despite huge digital revenue growth, the overall revenue figure is still minute compared with the print titles, with the Daily Mail and Mail on Sunday generating a half year revenue of £287 million, and the MailOnline just £20 million.

The Metro, 7 Days, also took a hit and revenue was down -8%, though still higher than the MailOnline at £40 million.

Dmg media’s total revenue was down -7% to £406 million, while operating profit was up by 6% to £36 million.

“Our UK consumer business, dmg media, continued to experience challenging conditions and underlying revenues were slightly down, although the increase in digital revenues more than offset the decline in print advertising revenues and the business delivered a 7% underlying increase in operating profit,” said Martin Morgan, chief executive of DMGT.

“We have continued to actively manage our portfolio of businesses and have made several acquisitions and disposals during the period and into the second half, to improve the overall quality and growth prospects of the Group.”

Morgan concluded by saying that he expects the comparatives in the second half of the year to be “adversely impacted” by the timing of biennial events and the Olympics, which he says were one-off benefits for DMGT at the second half of the last financial year.