Daily Mail announces 2% decline in year on year revenue growth
Publisher Daily Mail & General Trust has announced a 2% decline in year on year revenue growth for the six month period to the end of March 2012 – ahead of the group’s investor day scheduled for tomorrow afternoon.
The Group reported “solid” overall results with associated, circulation and digital revenue growth largely offsetting continued weakness in print advertising.
Circulation revenues were up 4%, bolstered by a hike in the cover price of the Daily Mail and a continued rise in readership.
Advertising revenues were down 3% however with print operations leading the slide following a 10% decline, despite digital operations posting double digit gains including the Mail Online website which notched up a 69% increase in revenue and a 10% rise in overall digital advertising.
Daily Mail’s outlook for the year remains unchanged.