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.
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.