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Daily Mail owner posts 15% plunge in revenue

Daily Mail & General Trust (DMGT) has posted a 15% fall in revenue in the three months to 31 December 2020.

The owner of the Daily Mail and the Metro said revenue fell to £304m. Advertising revenues decreased by 16% and the group saw print advertising fall by 38%.

Digital advertising increased by 8%.

Looking ahead, DMGT said: “The duration and severity of the Covid-19 pandemic remains unclear at this stage, despite the hope that vaccination programmes will enable lockdowns around the world to be eased over time. Consequently, the short-term outlook for the UK Property Information, Consumer Media and Events & Exhibitions businesses remains difficult to predict, albeit the dynamics outlined in DMGT’s FY 2020 results release on 23 November 2020 remain the same.

“The Board is confident that DMGT’s diversified portfolio is well-positioned to continue to withstand the present uncertainties and that its long-term approach will continue to create value for its shareholders.”

Shares were 0.9% lower at 813p during mid-morning trading on Thursday.

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