DMGT Plc, the owners of Daily Mail, the Mail on Sunday and The Independent, fell 8% this morning after releasing their third quarter trading report.
The company has been hit by a decline in the print advertising sector, with advertising revenues across DMG media newspapers down 13% compared to last year. However, advertising for companion websites and other forms of digital advertising were up, bringing total advertising revenue down 6% altogether. Due to this tough market, total revenue declined 5%.
However, market share grew for both the Daily Mail and the Mail on Sunday, with 23.4% and 22.1% respectively.
Due to the disappointing third quarter results, the company have directed their outlook for the Group’s Full Year results towards the lower end of market expectations.
