25th Sep 2013 08:06
LONDON (Alliance News) - Daily Mail and General Trust PLC Wednesday said that in the 11 month period to the end of August 2013, its underlying group revenue performance was up 2%, with underlying revenue growth from business-to-business operations up 6% in a trading update ahead of the year end on September 30.
In a statement the company said that Daily Mail Group media's revenue performance was down 2%. It expects its net debt to earnings before interest, tax, depreciation and amortisation ratio to be less than 2.0 at the end of the year. It has however, kept its full year guidance unchanged and in line with market expectations.
During the 11 month period, the company has spent GBP94 million on acquisitions, including GBP11 million in Euromoney Institutional Investor shares. Euromoney yesterday reported encouraging results in its pre-close trading update as advertising revenues returned to growth for the first time in two years.
Shares in Daily Mail and General Trust were trading at 780.50 pence, down 1.02% Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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