Multimedia and information company Daily Mail & General Trust plc (DMGT.L) provided a trading update covering the five-month period to the end of February 2013. The company reported that its trading was in line with its expectations, with an unchanged full-year outlook.
DMGT's underlying Group revenue grew by 2%, with a good underlying growth of 5% from its B2B businesses. On the other hand, underlying revenue declined 2% at dmg media.
As anticipated, net debt increased in the period, due to the usual seasonal cash outflows, including dividend payment. DMGT expects its year end net debt to EBITDA ratio to be around 2.0.
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