Publisher reports 5% rise in revenues despite weak advertising performance

Published on Wednesday 23 July 2008 11:18

THE publisher of the Daily Mail today reported a five per cent rise in third-quarter revenues after a strong performance in its business information division offset weak advertising revenues.

Daily Mail & General Trust (DMGT) said year-on-year advertising revenues at Associated Newspapers, which includes the Daily Mail and the Evening Standard, fell by three per cent in the quarter, helped by the faster-growing digital advertising sales.

Display advertising at the division was down five per cent, while classified fell nine per cent.

Its regional Northcliffe division saw advertising dip by 11 per cent. Overall revenues at DGMT for the third quarter to June 30 rose by six per cent to 78 million.

The company's chairman, Viscount Rothermere, said:

"Inevitably, the well-publicised deterioration in the UK economy is having an impact on our newspaper businesses there.

"However, our strategy of creating a diversified international portfolio of market-leading operations across both business and consumer products provides considerable resilience and leaves us well positioned to deliver long-term growth."