Daily Mail & General Trust’s revenues from its consumer media operations were down 19% year on year in the second quarter, to £303 million.
Total underlying revenues at Associated Newspapers fell by 12% to £206 million underlying circulation revenues were 7% lower year on year.
advertising revenues in Q2 fell by 15%. Within this figure, revenues from Associated’s newspaper operations, including Mail Online, fell by 12%, compared with a fall of 23% in the previous quarter. Display was down by 13% and classified down 14%.
Northcliffe Media, DMGT’s regional division, saw total revenues fall 27% to £79 million in Q2. Of this, UK revenues were down 28% and international down 22%.
UK advertising revenues for the quarter fell 33% year on year, compared with a year-on-year decline of 36% in the previous quarter.
UK digital revenues for the quarter were just 6% lower than the same period last year, with recruitment revenues 43% lower but a 60% growth in other categories. Unique visitor levels to Northcliffe’s network of ‘this is’ websites in June 2009 were 37% higher than the previous June.
UK circulation revenues for the quarter were 8% below last year. Daily and weekly paid for titles sale (unaudited) declined by 9% and 8% respectively in the January to June 2009 ABC period.
Martin Morgan, chief executive, said: “Since we last reported in May, trading conditions have remained weak in line with the board’s expectations. The decisive action taken to defend profitability earlier in the year, along with the continued management of our cost base, is helping to offset the impact of these conditions. The revenue and cost initiatives targeted to improve profitability this year by £150 million have been delivered.
“Our strategy of creating a diversified international portfolio of market-leading businesses in both business and consumer markets is proving to be effective in the current environment and leaves us well positioned to deliver long-term growth.”
