The newspaper and media group Daily Mail & General Trust (DMGT) posted a 2 per cent rise in underlying revenues in the 11 months to the end of August, as both its business-to-business operations and consumer media grew, helped by a gain in market share by its flagship Daily Mail newspaper.
DMGT also announced the retirement of its finance director Peter Williams after 19 years at the group. He will be replaced by Dow Jones's FD Stephen Daintith in March.
National advertising at the group rose 6 per cent in the period, and momentum increased in the fourth quarter with a rise of 13 per cent. Regional advertising fell 7 per cent in the 11 months, as a slump in recruitment advertising continued. "We've really got to see a pick-up in demand for jobs before we're really on solid ground again," said the chief executive Martin Morgan.