4th Feb 2015 07:33
LONDON (Alliance News) - Daily Mail and General Trust PLC on Wednesday reported a rise in underlying revenue for the first quarter, with revenue increasing in its business-to-business arm but falling for its dmg media newspaper business.
The company said its revenue for the first quarter to the end of December was GBP476 million, up 1% year-on-year on an underlying basis. Underlying revenue is defined by DMGT as revenue on a like-for-like basis, adjusted for constant exchange rates, disposals, closures, non-annual events occurring in the current and prior year, and acquisitions.
Underlying revenue growth in its business-to-business arm, which comprises its Risk Management Solutions, dmg information, and dmg events arms, as well as Euromoney Institutional Investor PLC, was up 4% for the quarter.
Revenue for the dmg media newspaper business was down 2% on an underlying basis, with circulation revenue falling 4% on the back of declining volumes. MailOnline digital advertising revenue rose 21% in the quarter, but print advertising revenue fell 10%.
The group said it net debt rose in line with its expectations, up GBP69 million to GBP672 million, and said it maintains its revenue and profit outlook for the full year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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