DMG Media, which includes the Mail titles and Metro, has reported operating profit up 39 per cent in the first half of this year to £50m.
This was achieved despite revenue dropping 1 per cent year on year to £399m thanks to cost cuts which included moving newspaper printing from Surrey Quays to Thurrock and the closure of the Stoke printing plan.
The Daily Mail and Mail on Sunday reported revenue down £9m year on year to £278m. Total revenue for Mail Online increased by £8m year on year to £28m.
Metro and 7 Days reported half-year revenue flat year on year at £40m. The other DMG Media businesses are Wowcher (revenue up 111 per cent to £11m) and Evenbase (down 4 per cent to £38m).
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Looking at the Mail titles: the company said that revenue growth for Mail Online offset both the 4 per cent decline in print advertising revenue and a 3 per cent decline in circulation revenue.
Total advertising revenue was said to be up 4 per cent to £131m. Practically all Mail Online's revenue appears to come from advertising.
According to ABC, Mail Online reached 180m global monthly browsers in March, with a daily average of 11.3m.
DMGT revealed that in the US alone Mail Online reached 62m monthly browsers in March, and 3.2m a day.
In January Mail Online launched an Australian edition as a joint venture with Mi9. In March it was said to have reached an average of 400,000 unique browsers a day.
Overall, parent company Daily Mail and General Trust reported half year operating profit up 10 per cent year on year to £160m on turnover up 2 per cent to £931m.
Euromoney Institutional Investor reported revenue up 5 per cent year on year to £196m and operating profit up 2 per cent to £54m.
Full DMGT half year result announcement.
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