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Newspaper Revenues Fall 26% At DMGT; Digital Up

Daily Mail & General Trust has reported a 26% fall in operating profits at its national newspaper division in the half year to 1 April, as ailing regional division Northcliffe revealed its first growth in profits since the recession. Overall, A&N Media – the parent of the national and regional newspaper operations – reported a 3% fall in revenue to £542 million and a 24% fall in operating profits to £33 million. The company, which cut staff numbers by 593 to 6,280 in the six-month period, said that operating profits fell due to lower print advertising revenue and additional promotional activity within the digital businesses. DMGT as a group reported a 2% revenue fall to £973 million as pre-tax profits plunged 37% to £46 million. On an adjusted basis pre-tax profits fell 14% to £105 million.

Read the whole story at The Guardian »

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