Mail titles owner, the Daily Mail and General Trust, has reported revenue growth of 2 per cent year-on-year for the first quarter of 2019.
The group said Mail Online’s total revenues were up by an underlying 14 per cent year-on-year for the three months to the end of December 2018, with figures for the US-focused Daily Mail TV included.
The UK’s most-read news website also saw advertising revenues climb by an underlying 11 per cent on the same period last year.
In a trading update, DMGT said it retains a “very strong financial position” with £203m in net cash.
Across the Mail newspaper titles – the Daily Mail, Mail on Sunday and Metro – total ad revenues were up by 4 per cent year-on-year, with digital ad growth of 10 per cent offsetting a 1 per cent print decline.
Its B2B businesses saw revenues climb by 17 per cent, with an “especially strong performance from Ed Tech”, DMGT said.
Paul Zwillenberg, chief executive of DMGT, said: “Our strategy is gaining traction and we delivered a robust performance across our more focused portfolio in the first quarter with underlying revenue growth across the breadth of our B2B and consumer media businesses.
“Within consumer media, Mail Online returned to double-digit growth and increased total underlying revenues by 14 per cent, benefiting from the inclusion of Daily Mail TV which continues to resonate well with its US audience.
“Our B2B companies all delivered underlying revenue growth with Ed Tech notable for a 17 per cent increase, driven by continued strength in subscription revenues across its product set.
“DMGT remains in a net cash position which provides us with significant financial flexibility as we continue to execute against our strategy.”
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