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Daily Mail And General FY Profit Declines; Underlying Revenue Up 2%

Daily Mail and General Trust plc (DMGT.L) reported profit before tax of 134.3 million pounds for the year ended 30 September 2019 compared to 706.5 million pounds, previous year. Earnings per share from continuing operations was 37.8 pence compared to 196.0 pence.

From continuing and discontinued operations, adjusted profit before tax was 145 million pounds, up 19 percent on an underlying basis. Adjusted earnings per share was 38.1 pence compared to 41.7 pence.

For the fiscal year, revenue from continuing operations was 1.34 billion pounds, flat with previous year. Group adjusted revenue for the year, including discontinued operations, was 1.41 billion pounds, a decrease of 1 percent, reflecting the effect of disposals. On an underlying basis, adjusted revenue grew 2 percent.

Paul Zwillenberg, CEO, said: "Consumer Media outperformed the market and there was a mixed performance across our B2B businesses, consistent with our expectations."

The Board recommended the payment on ordinary shares and 'A' ordinary non-voting shares of a final dividend of 16.6 pence per share for the year ended 30 September 2019. This will make a total for the year of 23.9 pence. The final dividend will be paid on 7 February 2020 to shareholders on the register at the close of business on 13 December 2019.

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