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Daily Mail publisher posts 16 pct drop in full-year profit

LONDON, Nov 29 (Reuters) - The publisher of the Daily Mail reported a 16 percent drop in adjusted pretax profit for the year to 182 million pounds ($233 million), at the top end of forecasts, reflecting challenging conditions in the newspaper market.

Daily Mail & General Trust said on Thursday it remained confident that it had the right strategy to deliver earnings growth, underpinned by a balance sheet strengthened by disposals that left it with net cash of 233 million pounds. ($1 = 0.7796 pounds) (Reporting by Paul Sandle; editing by Sarah Young)

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