Daily Mail & General Trust Q1 Revenue Down; Says Confident In Long-term
LONDON (dpa-AFX) - Daily Mail and General Trust plc (DMGT.L) reported Thursday that its first-quarter Group revenue was 304 million pounds, down 20 percent on a reported basis, and down 15 percent on an underlying basis. Excluding Events & Exhibitions, underlying revenues declined 5 percent.
The company noted that first-quarter revenue was in line with management expectations. Looking ahead, the company said trading environment remains uncertain, and it has continued confidence in the long-term.
In its trading update, the company said Consumer Media, which accounts for 54 percent of total revenues, recorded 9 percent drop in revenues on a reported basis, and underlying revenues fell 13 percent. Events & Exhibitions revenues plunged 95 percent, impacted by Covid-19 pandemic. This was partially offset by growth in digital advertising.