Daily Mail Forecasts ‘Satisfactory’ 2002, Despite Tough Times
In what is considered to be an upbeat trading statement this morning, DMGT stated that although the advertising market remains ‘soft’ the outlook is optimistic. During Q4 2001, advertising revenue at Associated Newspapers was showing declines of around 15% on the previous year, DMGT says that this margin has now narrowed to around 8% for February and March and describes the situation as ‘encouraging’.
At Northcliffe, the group’s regional arm, advertising continues to show positive growth, revenues for February rose by 3.5% although recruitment revenue is still down by 4% on last year.
In summary, DMGT said: “The Group is taking advantage of the strength of its businesses to improve market positions while times are tough. Looking at the financial year as a whole, a satisfactory outcome is currently expected.”
Interim results to 31 March, 2002 will be announced on 30 May 2002. Shares in DMGT had risen from an opening price of 695p to 716½p by 10am this morning.
