Daily Mail Third-Quarter Revenue Rises on Advertising
(Corrects final paragraph to specify trust is considering a bid for stake and hasn’t yet decided.)
Daily Mail & General Trust Plc (DMGT), the publisher of Britain’s second-biggest U.K. daily newspaper, said third-quarter revenue rose on more advertising and progress in the consumer businesses.
Sales advanced 3 percent to 448 million pounds ($689 million) in the three months through June, as advertising gained 2 percent, both on an underlying basis, the London-based company said in a statement today.
The publisher, which makes three quarters of its operating income from non-newspaper sources, is focusing on consumer businesses such as real-estate listings as the print industry contracts. Sales of its DMG Information and DMG Events units rose 13 percent and 6 percent respectively.
“Our consumer business and DMG media have held underlying revenues growth flat in the period, which is an encouraging performance with strong digital performance continuing to offset the weaker print side.” Finance Director Stephen Daintith said on a conference call.
The Daily Mail’s website Mail Online increased monthly unique browsers 29 percent to 121 million in June compared to the same month last year.
The group’s merger with Zoopla, a real-estate search engine is progressing well, according to Daintith. The unit, which competes with Rightmove, receives a third of Internet traffic in the market and will probably have full-year revenue of 60 million pounds to 65 million pounds, Daily Mail said.
Rothermere Continuation Ltd., a trust for Daily Mail Chairman Viscount Rothermere and his immediate family, is considering a bid for the remaining 10.8 percent of shares it doesn’t own, according to Daintith.
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