Nov 30, 2017

Daily Mail and General Trust shares drop 25%

Shares in Daily Mail and General Trust fell 25 per cent as the owner of the Daily Mail newspaper and MailOnline website warned of "Challenging" trading conditions in the year ahead and falling print advertising revenues. The group's full-year 2017 profits were in line with analyst estimates but its outlook for 2018 spooked investors when it said profits would be "Adversely affected by recent disposals and challenging conditions in some of our sectors". Previous guidance about print advertising in the Daily Mail suggested the title had weathered the decline that has hit other newspapers. Full-year revenues rose 3 per cent from £1.6bn to £1.66bn while earnings per share increased from 52.1p to 55.6p. "The underlying profit growth was particularly encouraging as MailOnline continued to grow its revenue strongly, moving into operating profit during the final quarter, and launched new initiatives, including DailyMailTV in the US," Mr Zwillenberg said. Advertising revenues generated by MailOnline are projected to eclipse those of the Daily Mail in the 2018, said Tim Collier, finance director.

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