Daily Mail publisher’s nine-month operating profit falls 44%

Covid-19 pandemic wipes out growth in first five months of 2020

Photograph: iStock

Photograph: iStock

 

The publisher of the Daily Mail newspaper reported a 44 per cent drop in nine-month operating profit after growth in the first five months was wiped out by the Covid-19 pandemic.

But Daily Mail and General Trust said its newspapers and website had returned to profit in June.

DMGT reported adjusted operating profit of £63 million (€69.2 million) for the nine months to end-June on revenue of £934 million, down an underlying 7 per cent.

The group, which is not issuing guidance for the year, said on Thursday its consumer media unit had returned to profitability in June, with a mid-single digit adjusted operating margin in the month. – Reuters