Daily Mail owner ahead of expectations

Media group Daily Mail and General Trust today reported better-than-expected trading despite “very limited” visibility over future advertising revenues.

The group, which last month sold the Evening Standard London daily to Russian oligarch and former spy Alexander Lebedev, said revenues for the three months to December 31 were up 2% to £568m (€632.5m), helped by a stronger dollar.

But it said UK advertising revenues for the period were down 27% below last year in its regional arm, Northcliffe, where it is undertaking further cost-cutting.

DMGT said Northcliffe had “two very slow weeks” after the New Year, resulting in a 40% drop in January advertising revenue compared to the previous year.

But the company saw good progress in its business to business division. Revenues from its Risk Management Solutions business, which provides risk models for insurers, were up 57% over the quarter.