Daily Mail owner’s profits fall after double-digit print ad slide

daily mailDMGT, the owner of the Daily Mail saw profits tumble by a quarter at its newspaper operation following a double-digit fall in print advertising revenues and investment in Mail Online.

Daily Mail & General Trust reported a 23% fall in operating profits, to £77m, at its consumer division, DMG Media, which takes in the Daily Mail, Mail on Sunday, Mail Online and freesheet Metro. The group also took a £25m writedown on US millennials site Elite Daily.

Total revenues for the Mail businesses fell by 2% to £577m in the financial year to September, offsetting a 12% fall in print advertising income. Mail Online increased its revenues 19% year on year, to £93m, a slowdown on the 28% growth reported in 2015.

For the full story read The Guardian