21st Nov 2013 07:29
LONDON (Alliance News) - Daily Mail & General Trust PLC (DMGT.L), a UK-based multi-media and information company, announced Thursday its preliminary results for the year ended September 30, reporting nearly flat pre-tax profit, while net profit declined from last year. The company also announced higher dividend.
Profit before tax from continuing operations for the year was 202.5 million pounds, compared to 202.9 million pounds a year ago. Adjusted profit before tax, which excluded certain items, were 282 million pounds.
Profit attributable to owners of the company declined to 189.2 million pounds from 253.8 million pounds a year ago. Earnings per share fell to 48.8 pence from 64.2 pence last year.
Adjusted earnings per share was 51.7 pence, compared to 47.9 pence a year ago.
Annual revenue from continuing operations was 1.753 billion pounds, compared to 1.747 billion pounds a year earlier.
Group revenue for the year from continuing and discontinued operations was 1.80 billion pounds, down 8% from 1.96 billion pounds last year, largely driven by the disposal of Northcliffe. On an underlying basis, revenues increased 2%.
The company reported good underlying growth in several revenue categories, particularly subscriptions and digital advertising, with print advertising and circulation revenues declining as expected. Further, the company said its Board is recommending payment of a final dividend of 13.3 pence per share for the year, resulting in full-year dividend of 19.2 pence, 7% higher than last year.
Looking ahead, Daily Mail said, "We have entered the new financial year with our businesses performing well and in line with our expectations. All our B2B businesses are expected to make good progress in the year ahead. . First quarter consumer trading to date has been satisfactory but we remain cautious about the medium term outlook, given continuing external uncertainties, particularly for UK advertising."
Copyright RTT News/dpa-AFX
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