DMGT profits survive the downturn


Updated:

Daily Mail & General Trust delivered better-than-expected full-year results supported by a strong performance from its flagship Daily Mail title.

The Mail newspaper delivered the second-highest profits in its history, despite the steepest downturn in advertising spending in decades.

DMGT's business publishing divisions increased their profits by 7 per cent in the year to October 4 after the fall in the value of the pound boosted overseas revenues.

And turnover at the Mail's websites rose 11per cent over the financial year.

Daily Mail

Group pretax profits slipped 23 per cent to £201m during the period - a smaller drop than City analysts had forecast


Chief executive Martin Morgan said: 'We have actively managed the business to defend profitability during unprecedented trading conditions.

'Our UK consumer businesses have achieved a sharp improvement in profitability in the second half of the year, reflecting more stable conditions and a lower cost base,' he added.

Group pretax profits slipped 23 per cent to £201million during the period - a smaller drop than City analysts had forecast.

The company maintained its full-year dividend of 14.7p per share. DMGT 'A' shares closed down 13.1p to 424.4p.

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