Jan 26, 2017
Daily Mail cuts outlook for its information business
Daily Mail and General Trust cut its outlook for its data and analytics business, pushing its share price down by more than 7 per cent on Thursday. The owner of the Daily Mail, Mail on Sunday and Mail Online said its European property information business had been "Adversely affected" by "Reduced activity levels" in the UK market in the first quarter. The media group's information business accounts for around 30 per cent of its revenues and around 40 per cent of its profits. Underlying revenues grew 1 per cent in its business-to-business publishing division, but declined 1 per cent in its media business, which includes the Mail newspaper titles. The media company also confirmed on Thursday that it had cut its stake in Euromoney, the financial information service, from 67 per cent to 49 per cent through a share placement and share buy-back by Euromoney.
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