14th Mar 2007 15:37
14th March 2007 Daily Mail and General Trust plc (`DMGT') Northcliffe International expands online in Central Europe
Northcliffe Media, the regional publishing division of DMGT, announces that Northcliffe International, its Central European media division , has recently made two acquisitions in Croatia and Slovakia for a total consideration not exceeding ‚£5 million. This is part of its continuing strategy of building print and digital advertising platforms focused on jobs, property and motors.
60% of the leading recruitment website in Croatia (mojposao.hr) has been acquired. This has 85% of that country's online jobs market. The business, which is based in Zagreb, will continue to be run by its founding shareholder who will retain a 40% shareholding. Northcliffe has an option to purchase this shareholding over the next three years.
The acquisition of Autovia.sk the leading Slovakian motors website strengthens the media position of Northcliffe in Slovakia following the recent acquisition of Pravda, the country's leading quality national newspaper title and Profesia, the leading recruitment website in the country.
Both acquisitions are expected to be earnings enhancing before amortisation in DMGT's current financial year.
To date Northcliffe has invested almost ‚£12 million on digital assets in Hungary, Slovakia and Croatia which generate revenues of ‚£3 m illion and operating profits of ‚£ 1.5 m illion. It now has market leading sites in the key classified channels of jobs, property and motors.
These businesses are managed via the Northcliffe International management team, who are based in Gy...‘r in North West Hungary.
Enquiries:
Peter Williams, Finance Director, DMGT, 020 7938 6631
Martyn Hindley, Finance Director, Northcliffe, 020 7400 1457
Andrew Honnor, Tulchan Communications, 020 7353-4200
Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594
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