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Media company Daily Mail and General Trust reported a sharp fall in profit as lost revenue following the sale of its property information business and the impact of the Covid-19 pandemic weighed on growth.
For the six months ended 31 March 2020, pre-tax profit fell 44% to £56m on-year and revenue was down 5% to £690m.
There was a £25m reduction in the share of operating profits from joint ventures and associates, following the distribution of the company's stake in Euromoney, and a £1m increase in net losses on an underlying basis, the company said.
'Our B2B subscription businesses, insurance risk, us property information and edtech, continue to trade well, showing growth and resilience. Our consumer media, UK property information and events and exhibitions have been significantly more impacted by the covid-19 crisis,' the company said.
The company declared an interim dividend of 7.5p a share, up 3% on-year.