DMGT reports 23% rise in profits

Daily Mail & General Trust (DMGT) has witnessed a record annual performance, with profits rising by 23% thanks to its two newspapers Daily Mail and Metro.

The company has reported underlying pre-tax profits of £247 million, which stood at £201 million a year ago. This comes as a result of the firm cutting costs extensively and seeing advertising bring in big revenue.

Record earnings at Daily Mail and Metro have allowed the company to see a 46% profits improvement.

Though underlying advertising revenue in the Associated Newspapers division has gone up by 6%, the Northcliffe local and regional newspaper section has witnessed a 7% slide due to complicated situations.

DMGT added it is "cautiously optimistic" seeing another prosperous year of growth with recent trends continuing.

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