Shares in the the owner of the Daily Mail dropped around 25pc this morning as the company fell to a loss and warned of “challenging conditions” in the year ahead.
Daily Mail and General Trust, which also owns stakes in Euromoney and Zoopla Property Group, posted a loss of around £112m for the year to September, down from a pre-tax profit of £202m in the previous year.
Profits were hit by impairment charges of £206m taken against three of its businesses where revenues were lower than expected, in particular its US property data company Xceligent, which is now undergoing a strategic review.
Genscape, DMGT's energy information business, also suffered from "challenging" conditions.
However the MailOnline website moved into profit in the final quarter of the year, with the company expecting it to make its first full-year profit in 2018.
By Jack Torrance.
Full story at Yahoo News.
No comments:
Post a Comment