UK newspaper publisher Daily Mail and General Trust Plc on Thursday reported a 10 percent rise in its full-year underlying operating profit driven by cost-cutting in UK consumer media and continuing strength in its business-to-business operations.
The company's sales rose 2 percent in the year to October 3, 2010, and said it was cautiously optimistic for another year of underlying growth.
Daily Mail and General Trust, which makes most of its profits from B2B activities such as risk management and financial information, and from international sales, said national advertising revenue rose 9 percent in the first seven weeks of the current fiscal year, continuing a trend of recovery, but regional advertising revenue fell 7 percent and that it was not expected to improve this quarter.
"Although we remain cautious about the medium-term outlook, particularly given continuing economic uncertainties, we are well placed to continue investing in our businesses," Chief Executive Martin Morgan said in a statement.
Underlying operating profit rose about 10 percent to 320 million pounds for the period and sales were 1.98 billion pounds.
Dail Mail and General Trust's flagship publication is the Daily Mail, Britain's most popular mid-market tabloid.
The company raised its full-year dividend by 9 percent to 16 pence a share.
Shares of the company fell about 3 percent to 548 pence in early trade on the London Stock Exchange.