Daily Mail & General Trust statutory pre-tax profit rose to £247mStaff Writer | December 1, 2016
Daily Mail & General Trust reported a drop in pre-tax profit and operating profit for the year to the end of September.
Daily Mail & General Trust Revenue came in at £1.92bn
DMGT said the drop in operating profit was mostly due to dmg media, which increased digital investment and suffered an underlying 12% decline in print advertising revenues, and to Euromoney, which saw revenues fall by an underlying 4%.
The company said the decline in pre-tax profit also reflects a £10m drop in income from joint ventures and associates, including a £17m reduction in respect of Local World, following the disposal of its stake in November 2015.
Meanwhile, revenue came in at £1.92bn from £1.85bn the year before and ahead of consensus expectations of £1.88bn.
Daily Mail upped its full-year dividend by 3% to 22.0p, in line with its dividend policy of delivering real dividend growth. ■