Daily Mail publisher sees climb in pre-tax profits

Daily Mail: publisher's consumer media revenues increased
Daily Mail: publisher's consumer media revenues increased

DMGT says it is on track to end year in line with market expectations.

DMGT saw pre-tax profits increase 19% in the six months to the end of March, reaching £100m on an underlying basis.

The publisher, which owns the Daily Mail, MailOnline and Metro, posted revenues of £724m, with underlying growth increasing by 1%. MailOnline delivered underlying revenue growth of 16%.

DMGT said the results reflected growth from its educational technology, events and exhibitions as well as consumer media operations, with revenues from insurance risk, property information and energy divisions remaining stable.

Business-to-business operations saw continued underlying revenue growth of 2%, according to the company. It added that its outlook is in line with market expectations, with guidance for the full year remaining broadly unchanged.

Paul Zwillenberg, chief executive of DMGT, said: "DMGT delivered a good performance in the first half of the year, achieving underlying growth in revenue, cash generation and profit. Consumer media delivered a particularly strong performance and we saw continued growth in our B2B portfolio."

The company also revealed that it had disposed of its 40% stake in US-based Real Capital Analytics for $89m.

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