Daily Mail & General Trust (DMGT) saw a 15% decline in revenue in the three months ended December 31, 2020.
The owners of Daily Mail and Metro said revenues had fallen to £304 million. Advertising revenue fell 16%, while print ads fell 38% for the group.
Digital ads rose 8%.
DMGT said: “Even though we hope that vaccination programs will be able to ease lockdowns around the world over time, the duration and severity of the Covid-19 pandemic remains unknown at this stage. As a result, The dynamics outlined in the DMGT 2020 results release are outlined in the release on November 23, 2020, but are short-term in UK real estate information, consumer media, events and exhibition businesses. The outlook remains difficult to predict.
“The board believes DMGT’s diversified portfolio is well positioned to continue to withstand current uncertainties and to continue to create value for shareholders.”
Stocks were 0.9% lower at 813p during trading Thursday morning.
