News Column

Daily Mail & General Trust Trading In Line, Outlook Maintained

July 24, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Daily Mail and General Trust PLC said Thursday it traded in line with expectations in the third quarter to end-June, and maintained its outlook for the year.

The company said revenue for the third quarter was GBP457 million, up 3% at constant exchange rates, and excluding exceptional costs. On a reported basis, revenue was up 2%.

It said that it had received net proceeds of GBP179 million to date from the initial public offering of Zoopla Property Group PLC in June. It has reduced its stake in the business to 31.8% from 52.1%.

In its Business-to-Business segment, the company said reported revenue was up 9% in the third quarter, boosted by bolt-on acquisitions and large biennial events being held in June, although this was somewhat reduced by the strength of sterling against the pound.

Within this segment, risk management solutions revenues were GBP43 million, dmg information revenues were GBP103 million and dmg events revenues were GBP22 million. Euromoney Institutional Investor reported revenues of GBP107 million, which also were affected by the strength of sterling.

In Daily Mail's dmg media segment, revenues were GBP183 million, down 7% on a reported basis. Circulation revenues were down 6%, due to lower sales volumes, although the Daily Mail and The Mail on Sunday continued to report increases in market share.

Advertising revenues were down 4%, as newspapers advertising continued to fall, whilst digital advertising grew.

Digital advertising from MailOnline rose to GBP15 million, up 49%, Daily Mail said, helping to offset a GBP3 million decline in print advertising revenues to GBP46 million.

MailOnline's monthly unique browsers in June were 169 million, up 39% from the previous year, and average global daily unique browsers were 11.0 million, up 34%.

Voucher service Wowcher saw revenues up 58% to GBP6 million, and now has a database of 5.5 million subscribers.

Shares in Daily Mail and General Trust were trading down 1.4% at 806.00 pence Thursday morning.

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Source: Alliance News

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