A newspaper publisher today took the unusual step of singling out some of its regional titles as having contributed to a fall in advertising revenues.
The comments came in a trading update giving details of its financial position for the 11 months to the end of August.
It reveals that Northcliffe Media’s total revenues for the period were 6pc lower year-on-year, with advertising revenue down 7pc.
The statement says: “For the quarter to September so far, advertising revenues are down 5pc due principally to weakness in our East Midland titles and the widely anticipated effects of reduced public sector advertising spend.”
For DMGT as a whole, like-for-like revenues were up 2pc and the trading was said to be robust, with growth from both B2B and consumer media businesses.
The financial year for the group ends on 3 October and pre-tax profits for the period are expected to be £238m.
Meanwhile, DMGT has announced its financial director Peter Williams will retire from the role next March.
He has been with the company since 1982 and held his current position since 1991.
Mr Williams will be replaced by Stephen Daintith, who is currently chief operating officer and chief financial officer of Rupert Murdoch-owned Dow Jones, publishers of the Wall Street Journal in New York.
DMGT chairman Lord Rothermere said: “Peter has made a tremendous contribution over the last 19 years as finance director, making him one of the longest serving finance directors in the FTSE – a testament to his ability, loyalty and dedication.”