DMGT Remains Upbeat Despite Pre-Tax Profit Fall

The Daily Mail and General Trust (DMGT) group has announced pre tax profit of £71.6m for the half year ended 1 April 2001, a year on year decrease of 1.1%, although operating profit was up 4.5% year on year at £103m and turnover increased by 11% to £960.5m.

Despite the fall in profits the Group declared the half year a success, pointing to the rise in operating profit, and predicted an upward turn in its fortunes in the coming months. “April and May have been difficult months, but our titles have outperformed the market.” the company’s statement read, “Good forward bookings, however, suggest a recovery in the last quarter and with their strong circulations our titles are well placed to take maximum advantage when trading conditions improve.”

By mid morning today, shares in DMGT had risen 12½p on yesterday’s closing price (see Sharewatch) to reach £7.72½.

DMGT: 020 7938 6000 www.dmgt.co.uk

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