UK Media Giant Hikes Annual Profit by 11%

23 November 2007

LONDON: UK media group Daily Mail & General Trust posted a robust 11% increase in full-year pre-tax profits to £288 million ($594.5m; £401m), but sounded a note of caution for the next fiscal year.

Said the firm, whose stable includes mid-market tabloids the Daily Mail and London Evening Standard: "Overall, the strength of the group's portfolio of market-leading business and consumer media businesses makes the board optimistic of achieving another year of steady growth in earnings."

However, it added the rider: "Provided that the UK economy does not deteriorate substantially."

Sales were up 3% at £2.2 billion. More than 50% of the company's operating profits now come from its non-core businesses such as property, insurance and energy trading.

Data sourced from BBC Online; additional content by WARC staff