5th Feb 2014 11:34
(Corrects the percentage change for digital advertising revenues.)
LONDON (Alliance News) - Daily Mail & General Trust PLC Wednesday maintained its outlook for the full year as it traded in line with expectations in the first quarter ended December 31, 2013.
The company also noted that Zoopla Property Group, a online property search firm in which it has a 52.6% interest, is exploring strategic options for its business. Daily Mail said it was participating in these discussions.
The multimedia company saw revenue of GBP472 million in the first quarter, which is said showed underlying growth of 6% from the previous year. However, on a reported basis Daily Mail said revenue had declined 6%.
In its Risk Management Solutions business, revenue was GBP44 million for the quarter. dmg Information saw revenue of GBP90 million, with reported revenues benefiting from the acquisition of Decision Insight Information Group in October 2013.
In its dmg Events business, Daily Mail said it saw underlying growth. However reported revenues declined to GBP38 million due to the absence of its Gastech event in the quarter. The next Gastech event will take place in March.
Euromoney Institutional Investor PLC, in which Daily Mail holds a 67.87%, revenues were GBP98 million, which Daily Mail said was in line with the previous year.
In its consumer segment, dmg media posted revenues of GBP201 million, underlying revenue grew 2% but underlying circulation revenues were down 2%, as volume declines offset the benefit of cover-price increases last February.
Advertising revenues in dmg media were up 5%, with a 4% decline in newspapers offset by a 26% rise in digital advertising. Advertising revenues from MailOnline and other newspaper companion websites were up 50%, and other digital advertising revenues were up 13%.
Daily Mail's MailOnline digital advertising revenue was GBP14 million, up 48% from the previous year. MailOnline's unique users were 162 million, an increase of 41% from the previous year, with average daily users of 9.9 million, up 39% from the previous year.
Shares in Daily Mail were trading up 3.7% at 1,004.00 pence late Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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