Dec 5, 2019
Daily Mail owner bolstered by digital ads as print circulation falls
DMGT said digital advertising helped offset the "Expected" decline in newspaper circulation, as the owner of the Daily Mail refocused its attention on the news industry with the purchase of the i. The parent company of the Daily Mail titles, Mail Online and Metro has over the past three years moved its previously sprawling business from 40 operating companies to eight, and from ten sectors to five. The statutory equivalent fell 81 per cent to £134m, a sharp drop that the company explained through significant income from disposals in the previous year. Underlying revenue grew by 2 per cent to £1.4bn. DMGT called the figures "Robust" and said they were helped by strong growth in digital advertising, particularly driven by MailOnline's "Growing profitability". Revenues from the media business, which makes up almost half of the group total, grew by an underlying two per cent to £672m. Paul Zwillenberg, chief executive, said the company had "Continued to deliver successfully" on the priority to focus its portfolio. In 2019, the company sold its final stake in Euromoney to shareholders for £900m as well as Genscape for $364m, which ended the company's activities in the energy information industry.
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