Daily Mail and General Trust’s national newspapers saw advertising jump 7% in July and August because of the Olympics but the group says it is too soon to say the economy is recovering.
Finance director Stephen Daintith said display revenues at the flagship Daily Mail should also be up 3% in September — the fourth consecutive month of growth.
“I don’t know when that last took place but it was several years ago,” said Daintith, explaining that the advertising market remains bumpy. “It’s very difficult to call October, November, December.”
Free website MailOnline smashed the 100 million monthly user mark, with revenue surging 72%. In contrast, revenues from paid-for apps remain “negligible”.
DMGT, a minority shareholder in the Evening Standard, said full-year profits are on track, with group revenues up 3%. Net debt is set to fall below £700 million from £1 billion three years ago.
