Mail Online has reported revenue for the first half of this year (to the end of March) up 61 per cent to £20m.
But despite the huge revenue growth from the world's most popular newspaper website, its contribution to the bottom line is still tiny compared to that made by its sister print titles.
And the increase in digital revenue does not offset the overall declines in print revenue for the Mail titles (down 6 per cent to £287m) and Metro (down 8 per cent to £40m). Total half-year revenue was down 6 per cent year on year to £406m for the DMG Media division of Daily Mail and General Trust.
Just looking at advertising, DMGT said that digital advertising growth across DMG Media now exceeds print advertising decline: “This is a significant inflection point for the business", the company said.
Overall operating profit for DMG Media (which comprises the Mail titles, Metro and Evenbase digital recruitment) was up 6 per cent to £36m.
Much of the revenue decline for DMG Media was said to be down to the fact that the Zoopla Property Group is now accounted for separately as a joint venture, and the disposal of central and eastern European operations.
The Northcliffe Media regional newspaper division was sold at the end of 2012 to Local World so only three months figures were available.
These showed revenue of £49m and operating profit of £7m. The operating profit margin of 15 per cent was an improvement on the 10 per cent profit margin in the same period a year earlier.
Overall DMGT reported half-year revenue down 6 per cent to £915m and operating profit up 10 per cent to £146m.
The revenue decline was partly due to recent disposals, including the Northcliffe regional press division.
Profit and revenue was largely driven by DMGT’s B2B information division which had revenue of £461m and operating profit of £113m.
Access DMGT's full half-year results for the six months to the end of March 2013 here.
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