Associated Newspapers reports rise in ad revenue
THE company that owns the 'Daily Mail' and 'Mail On Sunday' said yesterday that advertising revenue rose again in news that will give further encouragement to the newspaper industry.
In an interim management statement (IMS) covering the 11 months to the end of August, the Daily Mail and General Trust (DMGT) said that its national newspaper arm, Associated Newspapers, had seen total underlying advertising revenues rise by 13pc.
The increase in advertising pushed Associated's overall revenue 3pc higher, despite circulation falling by 2pc. Print revenues are up 10pc on the back of a rise in display ads, while 'pureplay' digital income is up 22pc. Total underlying ad revenues were up 6pc for the year so far.
The 'Daily Mail' has a circulation of just over 49,000 in the Republic, while the 'Mail on Sunday' circulation figure is more than 149,000.
Outside of the national operation, DMGT's Northcliffe Media, which controls more than 100 regional titles around the UK, said total revenues were down 6pc, with advertising revenue down 7pc.
DMGT said it expected to report "significantly higher profits" from its newspapers when it announces its full-year results next week.
Analysts expect DMGT to make a profit of about £240m (€280m) for 2010.
Last year, the company mocked the recession with one of its most profitable years ever, reporting income of £201m.
In its IMS yesterday, the company also announced that its long-time finance director, Peter Williams, would leave the company next March.
He is to be replaced by Stephen Daintith, who is currently the chief financial officer of Dow Jones, the parent of the 'Wall Street Journal'.