(Adds details, quote, shares)
LONDON, May 28 (Reuters) - Daily Mail owner DMGT
said the COVID-19 pandemic caused revenue at its consumer media
business to fall by a third in April and by an estimated 30% in
May as the company reported flat revenue for its first half.
The company said, however, that despite the fall in
advertising and a drop in circulation caused by the lockdown in
Britain, the unit would be close to breaking even this month,
demonstrating the strength of its titles and MailOnline website.
Its events and exhibition and property information
businesses were also hit by the health crisis, it said, with all
events cancelled from March to August and both commercial and
residential property transactions slowing sharply.
Chief Executive Paul Zwillenberg said the group's Insurance
Risk, U.S. Property Information and EdTech businesses were
resilient, with underlying revenue growing 5% in April when the
pandemic was at its peak in Europe.
"All of our businesses are market leading and I am highly
confident that they will come out of this global crisis stronger
and fitter," he said on Thursday.
DMGT reported underlying pretax profit of 56 million pounds
($68.7 million) for the six months to end-March on flat revenue
of 690 million pounds.
It increased its half-year dividend by 3% to 7.5 pence,
which it said reflected the strength of its trading performance
in the period.
DMGT's shares were trading down 4% in early deals at 712
pence.
($1 = 0.8151 pounds)
(Reporting by Paul Sandle; Editing by David Clarke)