Daily Mail & General Trust has reported that advertising revenues fell 24% at its national newspaper division, and 37% at its regional business Northcliffe Media in the first quarter.
The company said that it expects a net total of about 1,000 job cuts at Northcliffe this year, double the level it announced in November.
Classified revenues, other than recruitment, are showing signs of stabilisation, said DMGT, with recruitment revenues expected to be down 55% for the quarter.
DMGT said that as a group, “results for the first half of the year will show a substantial fall from last year’s first half year due to a combination of the worsening trading conditions and a change in the timing of profits”.
B2B revenues for the five months to February rose by 15%, benefiting significantly from the stronger dollar, said DMGT.
