Daily Mail profits climb despite slow ad recovery

Daily Mail & General Trust reported a 29% increase in half-year profits today, despite only seeing a “patchy recovery” in the advertising market.

The media group, which publishes the Daily Mail, the Mail on Sunday and the London Evening Standard, said the majority of its businesses enjoyed a good first half, with overall profits for the six months to April 4 improving to £107.3m (€161.6m) from £83.4m (€125.6m) last time.

DMGT said the upbeat trend had continued into April and May, adding that it expected to achieve an encouraging outcome for the full financial year.

The London-based company also said it remained interested in buying the Telegraph newspaper titles, although it did not provide details on its position within the auction, which is due to come to a head in the next month.