Mail Online’s revenues increased by 20% to £36m in the six months to the end of March, a sharp slowdown compared with last year and not enough to offset the advertising and sales decline at the Daily Mail and Mail on Sunday.
Its owner, Daily Mail & General Trust, said total revenue across its Mail businesses fell by 4% to £296m compared with the same period last year.
The Daily Mail and Mail on Sunday saw total revenues fall 6% year on year from £278m to £260m, with an 8% decline in print advertising revenue and a 4% decline in sales revenues.
The print titles lost £18m in revenue year-on-year for the period, while Mail Online managed to add £6m growing 20% year-on-year from £30m to £36m.
Mail Online’s revenue growth has halved compared to the 40% achieved last year, although the US operation is surging with 47% growth in the first six months this year.
Total advertising revenues across the Mail businesses was £131m, a 2% fall, as print advertising fell 8% (£8m) and Mail Online’s 20% boost (£6m) in revenue fell just short of offsetting the fall.
DMGT said that the underlying increase in digital advertising revenues across its entire DMG Media portfolio – which includes businesses such as free sheet Metro and daily deals operation Wowcher – continues to exceed the ongoing decline in print advertising revenues.
The company said that total underlying advertising revenues increased by 2%.
Its Mail businesses saw profits rise 21% to £46m.
Metro saw revenues rise 4% year on year to £39m. Wowcher increased its revenues by 32% to £15m.
In January, DMG Media acquired Elite Daily, the US-based news and entertainment website popular with 18- to 34-year-olds. It continues to be run as a separate business and is expected to make a small loss this year.
Operating profits for Metro, Wowcher and Elite Daily rose by 39% to £10m.
