LONDON, April 17 British newspaper group Daily
Mail & General Trust said it expected profits in the
first half of the year to be lower than in 2011, hit by falling
national advertising revenues and higher newsprint and
Daily Mail said it would keep its full-year outlook
unchanged but noted that it now expected both operating profits
and profit before tax for the first half of the year to be lower
than in 2011.
Profits were held back by the continuing slump in national
and regional advertising revenues, with fast growth in online
ads and higher circulation revenues failing to offset the slump
in advertising for the newspapers.
Underlying ad revenue at Associated Newspapers was down 3
percent in the six months to the end of March, although trading
in the month of March improved, with ad revenues up 1 percent.
Underlying ad revenue at Northcliffe Media was down 7
"On an adjusted basis, both operating profits and profit
before tax for the first half of the year are expected to be
lower than in 2011, although the outlook for the full year
remains unchanged," the group said.
Daily Mail, which has the most popular website in the world,
said it would report exceptional costs for the half year of
around 40 million pounds, due to reorganisation costs and the
accelerated depreciation of property, plants and equipment.
The group said it would however benefit from a strong
performance at its part-owned Euromoney, where revenues
for the six months are expected to be up 13 percent.