Friday 21 July 2017

The Punt: Irony alert as Daily Mail owner warns Brexit could hit its profits

Stock photo: PA
Stock photo: PA

The British are famously sniffy about whether Americans understand irony. The implication being that irony has a particular appeal to British tastes.

If so, they'll have enjoyed this week's financial results from the company that publishes the Daily Mail.

The Daily Mail & General Trust (DMGT) warned that the UK vote to leave the European Union in June now represents a risk to the business, though one the company believes is "manageable".

The vote could "accelerate the decline in print advertising revenue" in Britain, the company said.

It may also hurt the financial services sector, the company said, that will hurt DMGT units like Euromoney, a business that provides news and data to bankers.

No doubt the leader writers at the Daily Mail, which backed the vote to leave, are unphased by such wimpish sentiments.

"If you believe in Britain vote Leave," its headline writers wrote on the day of the vote, and its writers have referred to Remain campaigners unhappy after the result as "Bremoaners".

Its not clear if DMGT chief executive Paul Zwillenberg is in that camp, but he certainly seems less than enamoured of Britain's exciting post- Brexit prospects.

Irish Independent

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