The publisher of the Daily Mail and Mail on Sunday today said it had slashed its UK regional newspaper workforce by another 8% as revenues and circulation continued to fall.
Daily Mail & General Trust (DMGT) reported 332 consumer media job losses for the three months to January 2, mainly across Northcliffe Media, which includes around 100 regional titles.
The blow came as Northcliffe suffered a 6% drop in ad revenues and 3% fall in circulation during a difficult three months for the newspaper sector.
The fall was maintained in January, down 6% year-on-year.
Its Associated Newspaper national newspaper division saw a better quarter, despite being impacted by the snow in December as underlying ad sales rose 5%.
However, growth slowed to 2% in January.
DMGT’s shares fell by as much as 2%, but were performing strongly ahead of today’s update.
December was a difficult month for the newspaper industry, with the snow causing widespread circulation declines.
ABC circulation figures for December showed a 3.3% month-on-month decline for the Daily Mail and a 1.7% fall for the Mail on Sunday.
Martin Morgan, chief executive of DMGT, said: “Trading in the first quarter has been in line with our expectations, despite our consumer businesses being hampered by the poor weather in December.”
He added: “We remain cautious about the medium term outlook, given the external economic environment.”
Group-wide underlying revenues rose 5% to £497m (€585m) in the first quarter.
Its Associated division saw print ad revenues rise 3% and digital business surge 73%, driven by its increasingly popular Mail Online service.
The business-to-business arm also continued to show strong growth as underlying revenues rose 11%.
Gareth Davies, analyst at Investec Securities, said DMGT’s statement was “solid”.