(Alliance News) - Media company Daily Mail & General Trust said Thursday that outlook for financial 2019 is unchanged and trading in the first nine months was in line with expectations.
The publisher of tabloid newspaper Daily Mail said total group revenue was down 2% year-on-year on a reported basis but saw an underlying 1% rise in the nine month period until June 30. The company said its underlying measure takes into consideration closures, disposals and currency exchange rates
The company business to business division had a 6% fall in reported revenue, which the company attributed to disposals. The division however had an underlying revenue rise of 1%. The media company maintained its guidance of low single-digit underlying revenue growth for its B2B unit.
Its consumer division had a 3% reported revenue rise and a 2% underlying rise and the company said the "robust growth" in the unit has lead to upgraded full year expectations. Daily Mail & General had initially expected its consumer division to have a single-digit underlying revenue decline but now anticipate revenue to be stable.
The company said: "The Mail newspaper titles grew their market shares and we remain confident in the future growth opportunities at MailOnline, driven by increasing engagement with the direct audience."
Shares in Daily Mail & General Trust were down 0.4% at 770.00 pence each in London on Thursday morning.
