Daily Mail reveals revenue decline

Daily Mail & General Trust today said the gathering economic gloom had hit advertising revenues from its newspapers.

Regional titles in its Northcliffe Media business, which include the Leicester Mercury and the Hull Daily Mail, saw comparable revenues 11% below a year ago in the three months to June 30 as a slowing housing market hit home.

Meanwhile, advertising revenues from Associated Newspapers' newspaper operations - including national titles such as the Daily Mail, Mail on Sunday, and Metro - were 5% down.

Although the group's business-to-business division continues to perform strongly, chairman Viscount Rothermere said: "Inevitably, the well-publicised deterioration in the UK economy since we last reported in May is having an impact on our newspaper businesses there."