Revenues at the Daily Mail have continued their downward trajectory amidst a further 4 per cent fall in circulation of the mid-market paper, more than offsetting a recent 10p price hike for the Mail on Sunday designed to stabilise income.
The Daily Mail and General Trust group reported revenues were down by one per cent over the 11 months to August, compared with the same period the year before, as a result. Advertising revenues also fell by 9 per cent.
Despite this the MailOnline website continues to perform strongly, driving a double digit increase in online income of 15 per cent. This performance was repeated digital advertising revenues at DMGT’s sister websites, such as bargain portal Wowcher and property website Zoopla, which leapt 29 per cent year on year.
Other highlights included its education arm Hobson’s where revenues rose 10 per cent whilst DMGT’s business-to-business publications witnessed a 4 per cent uptick over the year.
Another black mark on the group’s performance comes in the form of Euromoney, in which DMGT holds a 68 per cent stake, are expected to fall a further 5 per cent over the fourth quarter versus a year earlier. A major issue for the group as investment banking accounts for roughly half of all its revenues.