DMGT posts £509m revenue as Mail Online records profit
By Hannah Jordan Thursday, 26 July 2012
The Daily Mail & General Trust reported a 3% revenue increase in its third quarter interim results to 1 July.
DMGT’s national newspaper arm, Associated, reversed a 4% drop in revenue recorded in the previous quarter to post a 1% year-on-year increase, bringing total reported revenues to £210m.
Circulation showed a 4% uplift with the Daily Mail, and Mail on Sunday increasing their market shares to 21.6% and 21% respectively, compared to 20.1% and 19.8% in the same period last year.
Online advertising revenue across the newspaper websites, mainly Mail Online, for the three months to 1 July were up 69%, which offset a drop in printed newspaper advertising of 5%, bringing Associated’s total underlying advertising revenue to 3% ahead of the same period last year.
DMGT's finance director Stephen Daintith said the figures were broadly in line with last year and that retail advertising had seen a clear benefit from the Jubilee.
Revenues at DMGT’s regional newspaper operation Northcliffe, declined again posting a 9% decrease to £54m, following a brief profit increase recorded in Q2. Total underlying advertising revenues were down 7% in what was described as "a difficult market" while circulation revenues increased slightly by 2%.
The group also reduced its net debts by £9m, in the three months to 1 July, to £800m.
Daintith said: "We expect net debt to reduce further in the final quarter. All our operating companies have continued to perform well and are in line with our expectations," he added.
"The group continues to generate strong cashflows which we will use to fund further acquisitions in the quarter.
"It as been a good third quarter performance and we remain confident at the outcome for the full year," Daintith concluded.
The Q3 report comes as Mail Online was confirmed by global data firm Comscore as the most read newspaper website in the world, while ABC figures revealed the site is the biggest in the UK with 42.9% overall share of visits to national newspapers.
Mail Online also received over 51% more daily visitors globally than BBC News, according to Comscore.
Meanwhile the latest ABC figures revealed that June 2012 was a bumper month for the Mail Online with an almost 40%, equivalent to 26.6m, increase in visitors over the month. Around 5.9m browsers used the site every day which was 44.8% more than in June 2011.
The figures dwarf those of nearest rival The Guardian by 74%, with 3.4m daily visitors recorded.
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