DMGT'S national and regional titles axe nearly 600 jobs

Daily Mail & General Trust (DMGT)'s national and regional papers have reported a 24% fall in operating profits, while nearly 600 jobs have been axed in the six months to 1 April, the company reported today (24 May).

Daily Mail: 5p cover-price rise helped boost DMGT's underlying circulation revenues
Daily Mail: 5p cover-price rise helped boost DMGT's underlying circulation revenues

A&N Media – which publishes the Daily Mail, The Mail on Sunday, free title Metro and regional titles including the Leicester Mercury – reported a 3% fall in revenues in the six-month period.

Adjusted operating profits in the period plummeted by £10m, equal to 24%, as the titles were hit by lower print advertising revenues and the cost of promotional activity across its digital business.

But it said this was partially offset by cover-price increases of its newspapers and by cost savings.

Overall, headcount at A&N Media was reduced by 593, to 6,280, in the period. It is unclear which roles have been impacted by the reduction in headcount.

Across its national titles, underlying circulation revenue rose 4% to £183m, helped by the 5p cover-price rise of the Daily Mail.

The company said that Mail Online – the market-leading national newspaper website – continues to perform strongly.

According to the ABC, Mail Online attracted 91,128,015 unique browsers in February. It has  previouisly overtaken the New York Times' monthly traffic in December last year to become the world's most popular newspaper website.

Underlying revenues at Associated's digital-only business grew by 15% to £41m in the period, helped by growth in recruitment advertising.

Overall, DMGT reported revenues on an adjusted basis of £973m, down from £991m the year before. Pre-tax profits fell 14% from £121m to £105m.

Follow John Reynolds on Twitter @johnreynolds10


Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Virgin, Baileys and Camelot join the line-up at Media360

Virgin, Baileys and Camelot join the line-up at Media360

Virgin Media, L'Oreal, Homebase and Shell are just some of the brands gearing up to speak at Brand Republic Group's 11th annual Media360 conference next month.

Share
My Media Week: Paul Mead

My Media Week: Paul Mead

This week, Paul Mead, founder and managing director of VCCP Media, searches for a head of strategy and innovation, presents to News UK and wonders if he's the last person alive not to have finished 'Breaking Bad' yet.

Share
Sky launches #WatchOnSky automated viewing on Twitter

Sky launches #WatchOnSky automated viewing on Twitter

Sky has started to trial its #WatchOnSky tool on Twitter, which lets customers watch or record TV programmes by simply clicking icons contained within a tweet.

Share

Get news by email