Nov 30, 2017

Daily Mail owner DMGT's shares plunge

Shares in Daily Mail publisher DMGT have fallen by 25% to hit a near five-year low. It came after full-year profit dropped 13% to £226m, and broker Liberum downgraded DMGT from "Buy" to "Hold" over consumer media concerns. DMGT said it may be "Adversely affected by recent disposals and challenging conditions" in some sectors next year. Chief executive Paul Zwillenberg said DMGT had delivered a "Resilient underlying performance during the year". DMGT also said that digital advertising revenues were expected to grow further, helping to offset expected falls in circulation volume and print advertising.

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