This Interim Management Statement (`IMS') covers the first quarter of DMGT's
financial year, the three month period to 1st January 2012. It describes the
Group's financial position and performance during the period, updated to the
latest practicable date.
Summary of the period:
* Trading in line with our expectations;
* Revenue for the first quarter of £495 million, up an underlying# 2%;
* Good underlying# revenue growth of 6% from B2B operations;
* Stable revenue at Associated Newspapers, but weakness in print advertising;
* Further market share gains by the Mail titles and strong digital
performance;
* Continued focus on operational efficiency;
* Outlook for the year remains unchanged.
Martin Morgan, Chief Executive, said:
"We have made a solid start to the year with trading in the first quarter in
line with our expectations. Overall our B2B operations achieved good underlying
revenue growth, whilst our consumer media operations were resilient with
increased national circulation revenues which, together with a strong digital
performance, offset a decline in print advertising revenues. Whilst we
acknowledge the continuing external uncertainties, particularly for UK
advertising, the outlook for the year remains unchanged."
