Mail Online sales soar 65%

Mail Online sales surged 65% in the past financial year as parent company DGMT said it remained cautious about the outlook after posting an overall 15% drop in pre-tax profit.

Digital revenue from Associated Newspapers’ digital portfolio, which includes Mail Online and metro.co.uk, jumped 56% to £19m for the 12 months to October 2.

Associated Newspapers cited Mail Online, together with its recruitment and property digital businesses, as keeping underlying revenues in line with expectations. The company’s sales slipped £21m to £883m. Operating profit dropped £13m to £76m for the period.

DMGT pre-tax profit fell 15% to £125m for the past year, while sales were up 1% to £1.9bn.

Martin Morgan, chief executive of DMGT, said, “Notwithstanding the challenging trading conditions, the underlying revenues of Associated Newspapers were unchanged. Furthermore, Mail Online is now a global name in news and on course to become the world’s biggest English language newspaper website. While first quarter trading to date has been reasonable, we remain cautious about the medium-term outlook, given continuing external uncertainties, particularly for UK advertising.”

He added: “Our strategy remains focused on innovation-led growth, talent development and improved operating effectiveness. We are a more focused and financially stronger group today, which makes us confident that we can make real progress in 2012.”