DMGT reports a pick-up in regional advertising
NEWSPAPER publisher Daily Mail & General Trust (DMGT) yesterday said it was confident of meeting market expectations and gave fresh evidence of recovery in the consumer media market.
DMGT, which runs business-to business publications, conferences and radio operations as well as its national titles, said trading conditions in consumer media were difficult but it was beginning to see a pick-up in advertising revenue at regional papers.
Chief executive Martin Morgan said: “We do see the signs of a beginning of a recovery on the consumer side.”
At Associated Newspapers, which publishes the company’s flagship Daily Mail and its sister Sunday paper, advertising revenues for the 11 months to end of August fell 16 per cent and circulation by two per cent.
DMGT said that while advertising revenues were down by 21 per cent in July and August, September had seen some improvement.
At its local papers division, Northcliffe Media, advertising revenues were 31 per cent down and circulation dropped by seven per cent.
DMGT has axed 200 jobs since 30 June, reducing its total staff numbers by 1,5000 over 11 months. The City expects the group to make a pre- tax profit for 2009 of £182m.