10th Oct 2007 13:30
10 October, 2007 Daily Mail and General Trust plc ('DMGT') Presentation on Northcliffe Media
DMGT is today making a presentation to City analysts and institutions on its local media division, Northcliffe Media. A script of the presentation, together with slides, will be available on the Company's website, www.dmgt.co.uk from 4 p.m.
The presenters will be Northcliffe's managing director, Michael Pelosi, and finance director, Martyn Hindley, together with DMGT's finance director, Peter Williams.
During the presentation, Michael Pelosi will make the following comments on Northcliffe's growth prospects:
"We have a revitalised business, which is clearly focused, more efficient, operating on a much reduced cost base, and has a renewed sense of purpose.
We are aware of our key challenges. We must deliver local audiences if we are to achieve profitable revenue growth. Digital publishing has a key role to play here.
We are implementing solutions so as to address our challenges. Northcliffe is now an integrated local media publisher. Online, we are getting better by the day. Our commercial platforms are backed up by DMGT pure plays - Jobsite, FindaProperty and motors.co.uk.
But we still recognise the huge value of print and we will launch selectively where market opportunities present themselves."
Martyn Hindley will expand on the statement made within DMGT's general trading update, released on 27th September, making the following comment on Northcliffe's current trading:
"In the year ended 30th September 2007, Northcliffe expects to report revenues of ‚£448 million and operating profits* of not less than ‚£92.5 million. On a like for like basis, UK advertising revenues declined by 0.7%, UK operating profits* grew by 6.9% and International operating profits* grew by 18%".
* References to operating profits are to total adjusted operating profit (before amortisation and impairment of intangible assets and exceptional items) including share of the results of associates.
Enquiries: Peter Williams, Finance Director, DMGT, 020 7938 6631
Michael Pelosi, Managing Director, Northcliffe, 020 7400 1454
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 Not for public release until 1.30 p.m. on 10 October, 2007
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