Year-on-year revenue at regional newspaper publisher Northcliffe Media has dropped by 10 per cent in the six months to March 2012, according to figures released by parent company Daily Mail General Trust this morning.
In a trading update the company said costs had been slashed by 13 per cent during the same period, circulation revenue was down 5 per cent and advertising fell 11 per cent.
Revenue at Associated Newspapers – publisher of the Daily Mail, Mail on Sunday and Metro – was down 2 per cent in the six-month period, where a 5 per cent drop in advertising income was offset by a 4 per cent increase in circulation revenue
Overall headcount across DMGT's consumer arm A&N Media, which includes Associated and Northcliffe, was reduced by 593 (or 9 per cent) to 6,280.
Associated's print revenue was down 10 per cent but this was offset by a 58 per cent rise in digital revenue, including Mail Online increasing by 69 per cent and digital advertising up 10 per cent.
Overall group revenue for DMGT was down 2 per cent and B2B revenue remained flat.
Euromoney Institutional Investor saw year-on-year revenue increase by 13 per cent in the six months to March, driven largely by income from subscriptions.
Today's results come just days after Northcliffe announced that 20 jobs were under threat at the Bristol Evening Post as part of plans to scrap its Saturday edition and become a five-day operation from next month.
The paper is also dropping 'Evening' from its name and will be known simply as 'The Post'from 19 April.
Over the last year Northcliffe has taken four of its regional daily titles weekly and seen many of its most experienced editors take redundancy.
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