Daily Mail publisher hit by decline in ad revenue
Published 01/12/2016 | 08:16
The publisher of the Daily Mail reported an 11pc drop in adjusted operating profit after its media business suffered from a fall in print advertising revenues and challenging conditions in the property information, energy and financial sectors.
Daily Mail and General Trust reported adjusted operating profit of £277m for the year to end-September on revenue of £1.92bn, flat on an underlying basis.
"The reduction was principally due to DMG Media, which increased digital investment and suffered an underlying 12pc decline in print advertising revenues, and to Euromoney, which saw revenues decline by an underlying 4pc," the company said on Thursday.