The Daily Mail & General Trust revealed a positive set of interim results today with rises in both profits and advertising revenue, but it was careful to warn of complacency in a still volatile market.
The group’s national newspaper division, Associated Newspapers, saw advertising revenue increase by 6% year on year, with rises recorded in each month of 2004 so far. March was a particularly positive month as revenues surged by 13% on the previous year, which was badly affected by the war in Iraq.
Group classified advertising revenue was particularly fruitful, with a 3.7% increase across all titles except London’s Evening Standard, which suffered a 12% dip in revenues due to lower yields.
Pre-tax profit also increased, rising by 29% year on year during the six months to April to £107.3 million. DMGT claims the rise represents improved profitability across its operations despite only marginal increases in advertising.
DMGT’s regional newspaper division also had successful tales to tell and the company’s Northcliffe Newspapers operation returned a 9% increase in operating profit year on year, as well as a 6% boost to advertising revenues in the same period.
The group also reported improvements in publishing margins, but stated that these were largely being off-set by new presses being commissioned or refurbished.
Related Links
