Daily Mail & General Trust has issued a pre-close trading statement for the 11 months to the end of August, reporting year-on-year underlying revenue growth of 2%.
DMGT expects adjusted full-year pre-tax profits to come in about the “high” £250 million mark.
However, tough advertising conditions led to a 24% year-on-year ad revenue fall at regional newspaper business Northcliffe Media in September.
In addition, tough ad conditions at DMGT’s national division Associated Newspapers, saw total advertising down 3% in July, August and “broadly continuing” into September.
Newspaper advertising revenues were down 2.6% in July and August, with display ads down 0.9% and classified ads down 15% year on year.
Associated Newspapers’ total revenues for the 11 months to the end of August were up 1%, with circulation revenues up 1% year on year thanks to raised cover prices earlier this year.
Total ad revenue for the period was up 0.4% year on year for the 11-month period – when an 11% year-on-year ad revenue boost from its extensive Associated Northcliffe Digital operation are factored in.
Advertising revenue for the newspaper operation for the 11-month period was up 1%, with display ads up 2% and classified advertising down 11%.
Regional newspaper operation Northcliffe Media saw total revenues down 5% year-on-year for the 11 months to the end of August. Underlying revenues were down 4%.
DMGT said that digital revenues are up 46% year on year for the 11 months to the end of August, accounting for 6% of total ad revenue.
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