Profits Jump 68% At Daily Mail

The Daily Mail & General Trust today released final year results which show a 68% rise in pre-tax profits to £143.7 million, with turnover increasing from £1 billion to £1.2bn.

The group puts this growth down to rising ad revenue and lower newsprint prices. Advertising at Associated Newspapers (up 12% overall) was strong, particularly in the second half of the year, while there was a 13% increase in ad revenue at Northcliffe. DMG Radio however performed “quite well” but suffered from weak national advertising. It was a bleak picture at Channel One, which continued to suffer from lack of audience and revenues, though losses for the year were in line with last year.

In terms of its outlook, DMGT says that the new financial year has started well with continuing strong advertising revenues in the UK and the prospect of a stable newsprint price for the year. It remains cautious however, saying that “much will depend on the well-being of the UK economy” and especially of recruitment advertising which, while currently buoyant, “has been known to turn down very quickly.”

DMGT: 0171 938 6000