DMGT cuts jobs in tough quarter

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Daily Mail and General Trust reported 332 consumer media job losses for the three months to January 2

The publisher of the Daily Mail and Mail on Sunday said it had slashed its 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 Newspapers 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 Wednesday’s update.

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.”

Group-wide underlying revenues rose 5% to £497 million 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%.

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