LONDON (dpa-AFX) - British media company Daily Mail & General Trust Plc. (DMGT.L) reported that its Group revenue for the first quarter rose 2% on an underlying basis. The outlook for fiscal year 2019 unchanged and is in line with market expectations.
In Business to Business, Broad-based underlying revenue growth was 3%; particularly strong EdTech performance. Reported revenues were down 5%, reflecting disposals, partly offset by stronger US dollar. The company still expects low-single digit underlying revenue growth with adjusted operating profit margin in the mid-teens.
Circulation revenue declined 3%, with volume reductions partly offset by the cover price increase of the weekday editions of the Daily Mail from 65 pence to 70 pence in September 2018. Underlying advertising revenue growth of 4% was achieved across dmg media; a 1% decline in print was more than offset by 10% growth from digital.
Net cash at 31 December 2018 was 203 million pounds compared to 233 million pounds at 30 September 2018, reflecting the usual seasonal cash outflows.
The Group's next scheduled announcement of financial information will be its results for the half year ended 31 March 2019, which will be released on 30 May 2019.
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