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Jan. 21, 2021, 2:42 a.m. EST

Daily Mail & General Trust revenue falls

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By Adria Calatayud

Daily Mail & General Trust PLC said Thursday that revenue for the first quarter of fiscal 2021 fell as the coronavirus pandemic hurt its consumer media and events operations.

The owner of the Daily Mail newspaper said it generated revenue of 304 million pounds ($415.1 million) for the quarter to Dec. 31, down 20% on year. On an underlying basis, first-quarter revenue fell 15%.

DMGT said its first-quarter underlying revenue decline narrowed to 5% excluding its events and exhibitions operations.

The company said first-quarter revenue from its consumer-media business fell 13% on an underlying basis, while revenue from its business-to-business operations was down 17%.

DMGT said the duration and severity of the pandemic remains unclear despite vaccination programs, but said its board is confident that the company's portfolio is well-positioned to withstand current uncertainties.

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