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Tuesday, October 19, 2021

Daily Mail owner buoyed by online growth amid sliding newspaper sales

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The Daily Mail’s parent company saw sales and profits slip for the year despite its online operations helping to weather the continued downturn in newspaper sales.

The Daily Mail General Trust (DMGT) saw pre-tax profits slip 21% to £145 million for the year to September 30.

Meanwhile, revenues dropped 1% to £1.4 billion for the year on the back of sliding sales for the Daily Mail and Mail on Sunday newspapers.

Revenues for the Mail titles dropped 4% to £406 million, however this was largely offset by the continued growth of the MailOnline.

The online division saw revenues jump 14% to £140 million, while the business was hailed as being “solidly profitable”.

DMGT also reported an 11% jump in sales for the Metro to £79 million, as total sales across the consumer media division rose 3% to £672 million.

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