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Daily Mail and General Trust sees adjusted profit above market expectations

By BFN News | 09:17 AM | Thursday 22 October, 2020


Daily Mail and General Trust reinstated guidance, forecasting profit to top market expectations amid stronger September growth, but remained cautious on its outlook as the Covid-19 pandemic continued. The company estimated adjusted revenue will be in the range of £1,205-1,215m and adjusted operating profit in the range of £85-90m, compared with market expectations for revenue of £1,168m to £1,275m and adjusted operating profit of £59m to £80m. The performance had been helped by stronger than expected September profit from consumer media, which benefitted from advertising revenue being above expectations and landmark, its UK Property Information business, which benefitted from an increase in property market transactions. 'The severity and duration of the Covid-19 pandemic and its economic repercussions remain uncertain as we enter the new financial year. The Board has limited visibility of the impact on DMGT's UK property information, events & exhibitions and consumer media businesses for FY 2021 and remains cautious,' the company said. At 9:17am: (LON:DMGT) Daily Mail and General Trust PLC share price was +22p at 698p Story provided by StockMarketWire.com

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