The Daily Mail and General Trust has issued an upbeat trading statement for the half year ending 1 April, 2007.
The company said: “The current financial year has maintained its good start. Associated has continued to grow its share of national advertising, although the London newspaper market remains particularly competitive.”
The regional newspapers division, Northcliffe, is said to have offfset falling revenues by cutting costs and have “recently seen its first year-on-year advertising revenue increases for nearly two years.”
The business to business divisions are also said to have increased their operating profits.DMGT said: “This sixmonth performance will benefit from acquisitions and timing differences and will, as a result, show stronger growth than we currently expect to achieve for the full year.
“National newspapers and related activitiesAssociated Newspapers’ circulation revenues for the five months to February 2007 were 5 per cent above the same period last year.”
Ad revenues in the group are said to have increased by 10 per cent – helped largely by growth in the combined national and regional online division, Associated Northcliffe Digital – which is up 48 per cent (excluding acquisitions).