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Daily Mail and General Trust revenue falls 30% in Q1 on event delays, cancellations
StockMarketWire.com
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Media company Daily Mail and General Trust reported first-quarter revenue fell 30%, as disposals, a weaker US dollar and adverse impact of cancelled and postponed events weighed on performance.
Underlying revenue, excluding events and exhibitions, rose 6%, driven . by continued growth from product subscriptions.
The consumer media business revenue fell 9%, paced by a 15% decline in advertising revenue and a 2% decline in circulation revenue.
'The print advertising market remains challenging and the revenue impact was exacerbated by reduced readership of Metro,' the company said.
Tthe short-term outlook for the UK Property Information, Consumer Media and Events & Exhibitions businesses remains difficult to predict, albeit the dynamics outlined in DMGT's FY 2020 results release on 23 November 2020 remain the same. Total underlying revenue decrease of 13%; performance in line with management expectations and improved sequential growth across all revenue types compared to Q4 FY 2020.
'Consequently, the short-term outlook for the UK Property Information, Consumer Media and Events & Exhibitions businesses remains difficult to predict, albeit the dynamics outlined in DMGT's FY 2020 results release on 23 November 2020 remain the samem
At 9:05am: (LON:DMTR) Deepmatter Group Plc share price was 0p at 1.8p
Story provided by StockMarketWire.com
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