Daily Mail and General Trust , the publisher of the Daily Mail tabloid and Mail Online website, reported full-year results slightly ahead of forecasts and said it was well positioned to deliver long-term growth.
The group announced the results as it also took a £45 million charge related to the delay of its software RMS one product.
Profit before tax in the year to the end of September was up 9 per cent to £291 million, compared with a consensus figure of £286 million, helped by the strong performance of its trade division and its consumer newspaper business, including digital advertising.
“As reported in September, RMS’s operating margin is expected to be around 10 per cent to 15 per cent in full-year 2015, reflecting the delay of, and continued investment in, RMS(one).
“The board remains confident, however, that the group is well positioned to deliver its excellent long-term growth prospects.”