DMGT shrugs of December chill with strong 1st quarter

Daily Mail and General Trust reports revenue is up.

Despite the freezing December weather which apparently chilled the rest of the UK economy, Daily Mail and General Trust is continuing to power ahead.

In a management statement covering the three months to 2 January, DMGT reported revenue up three per cent year on year to £497m.

Excluding the effect of closures, acquisitions and sell-offs, underlying revenue was up five per cent, the company added.

Chancellor George Osborne blamed bad weather for the UK economy shrinking by 0.5 per cent in the last quarter of 2010, but this was not reflected at DMGT.

The company's national press division, Associated Newspapers, reported a revenue increase of one per cent in the period to £211m - on an underlying basis, revenue was up five per cent.

Circulation revenue was down one per cent at Associated in the same period while underlying advertising revenue was up six per cent.

Digital revenue, including from its industry-leading website Mail Online, was up 11 per cent in the period, DMGT said, with recruitment and property ad sectors experiencing "strong growth". However, revenue from travel and motoring ad sectors was said to be "challenging".

Full Story at Press Gazette