Media trade journal Press Gazette today reports that DMGT, the parent group of the South Wales Evening Post, has reported revenue being significantly down. Revenues do remain at over £480m, however.
Reporter Oliver Luft writes: “Daily Mail & General Trust recorded a year-on-year fall in overall revenue of 15 per cent in the three months to the end last year.
“Total revenue at DMGT, owner of the Daily Mail and Northcliffe Media regional newspaper business, stood at £482m.”
He states that Northcliffe revenues slid 15 per cent in the period to £73 million. UK advertising revenue for the quarter was 13 per cent lower at Northcliffe than the same period last year.
Trading conditions at Northcliffe were "challenging," according to the group, particularly for recruitment advertising which was down 33 per cent.
Retail, property and motors were down 7%, 5% and 8%. However, January has seen an improvement in advertising trends.
UK digital revenue for the quarter was 11 per cent higher than the same period in 2008 but circulation revenue was eight per cent down.
DMGT revealed that staff numbers were down by 334 (4%). Chief executive Martin Morgan told Press Gazette that 2010 had started well: "but we remain cautious about the outlook for the rest of the year, particularly in the UK".
No comments:
Post a Comment