LONDON, July 27 (Reuters) – British newspaper and professional publisher Daily Mail & General Trust (DMGOa.L) said underlying third-quarter sales rose 6 percent after advertising trends improved and subscriptions to its publications held up.
The group said it was trading ahead of its expectations after underlying advertising revenues rebounded 13 percent at its national newspapers, led by the Daily Mail title, Britain’s best-selling mid-market tabloid.
Advertising sales at its regional newspapers — worst hit by the recession after classified property, recruitment and car ads sales dried up — fell 4 percent.
Total revenues for the quarter to end-June were 508 million pounds, helped by a 9 percent underlying increase at the company’s business-to-business operations, which account for almost half of group sales.
“Trading in the third quarter has continued to reflect the generally positive trends in our international B2B and UK consumer media businesses, although we remain wary about the medium term outlook, particularly in the UK,” Chief Executive Martin Morgan said in a statement.
DMGT said it would maintain its focus on cost control, as part of which it had closed regional titles and slashed jobs.
Daily Mail’s Euromoney (ERM.L) financial-publishing unit last week reported a strong fiscal third quarter but said uncertainty remained amid signs of weakening advertising sales and lower numbers of delegates to its events. [ID:nLDE66J1QZ] (Reporting by Georgina Prodhan; editing by Simon Jessop)