Sliding profits for Daily Mail owner

The publisher of the Daily Mail newspaper reported a 23% plunge in annual profits today, but said its flagship title had the second best year in its history.

Daily Mail & General Trust (DMGT) posted underlying profits of £201m (€220m) for the year to October 4 – down from £262m (€287m) after it was hit by the steep slump in advertising revenues amid the recession.