Daily Mail sees Australian revenues drop 15%
The Daily Mail Australia has seen its revenue drop by 15% for the six months ended March 31 while the UK business was hit by declining print advertising revenues and declining circulation revenues.
The publishing company’s Australian operations revenue amounted to $13.4m (£6.6m), down from $15.8m (£7.8m) in the corresponding six month period. The Australian results include contribution from other businesses it owns here.
In January Nine Entertainment Co opted out of its partnership with the Daily Mail Australia to its British-based parent company The Daily Mail General Trust, just over two years after the joint-venture was created.
Shortly after Nine CEO Hugh Marks told the company’s AGM, at which Nine announced a $9.8m write down mainly based on the ending of the venture, the split had happened because Nine had “no control over their costs” and claimed the business had been unprofitable.
