298 jobs axed at Northcliffe over last financial year

Almost 300 people have lost their job at newspaper publisher Northcliffe Media over the last year.

Figures released in the company’s trading update this morning showed that staff numbers were cut by 12 per cent (298) to 2,233 since last September, while headcount at parent company Daily Mail General Trust (DMGT) was cut by 498 to 3,844.

Total group revenue was down 1 per cent, with the company’s national newspaper division, Associated Newspapers, down 2 per cent and Northcliffe down 10 per cent.

Elsewhere, the group revealed it had been given a boost by the London Olympics in July and August and cover price rises introduced last year.

Associated’s circulation revenue was up 4 per cent year on year and ad revenue was up 7 per cent in July and August.

Total ad revenue was down 1 per cent, with newspapers down 7 per cent and websites (mainly Mail Online) up 72 per cent.

Circulation revenue at Northcliffe was up 1 per cent on an underlying basis (is adjusted for acquisitions, disposals and closures) with ad income down 8 per cent.

Costs at Northcliffe were slashed by 14 per cent over the last financial year.

DMGT chief executive Martin Morgan said: "DMGT has delivered a solid revenue performance over the year to date, driven by continued strength in our B2B operations.

“The consumer business delivered a resilient performance and also benefited from incremental revenue from the Olympics. We expect our full year results to be in line with market expectations.

Going forward our focus will remain on driving organic growth, operational and financial efficiency and pursuing an active portfolio management approach."

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