British media firm Daily Mail & General Trust said today it was coping well with tough advertising markets but gave few signs it expected an improvement soon, pressuring its shares.
The publisher of the Daily Mailand Ireland on Sunday, said display advertising revenues at its national newspapers fell 3.5 per cent in the 11 months to the end of August.
The decline slowed in July and August, but advertising markets remained challenging, the firm said in a trading update.
National newspapers have been struggling with a drop in advertising revenues as businesses have slashed marketing budgets in the global economic slowdown.
Daily Mailsaid advertising revenues at its regional titles rose 3 per cent in the 11 months to August, helped by a 13 per cent increase in property-advertising sales.
Sales of the Daily Mailand the Mail on Sundaynewspapers rose in the six months to the end of August in a declining market, but Evening Standardsales fell 1 per cent following a five pence cover price rise in January.
Circulation revenues at regional newspapers were up 4 per cent in the 11 months to August.