Northcliffe Media revenues down by 27 per cent

Northcliffe Media’s total revenues were down by 27% to £79 million, according to the Daily Mail and General Trust's interim management statement for the quarter to 30th June.
UK advertising revenues for the quarter were 33% lower than the same period last year, compared with a year-on-year decline of 36% in the previous quarter, but DMGT says absolute weekly levels of advertising revenue appear to have stabilised.
Retail, now the largest category, was down by 16%, recruitment down 56%, property down 46% and motors down by 28%. June and the first three weeks of July have seen revenues respectively 30% and 28% lower than the corresponding weeks last year.
UK digital revenues for the quarter were just 6% lower than the same period last year, with recruitment revenues 43% lower but a 60% growth in other categories.
Unique visitor levels to Northcliffe’s network of “thisis” websites in June 2009 were 37% higher than the previous June.
UK circulation revenues for the quarter were 8% below last year. Daily and weekly paid for titles sale (unaudited) declined by 9% and 8% respectively in the January to June 2009 ABC period.
DMGT says Associated Newspapers is now benefiting from significantly lower costs, despite its total underlying revenues (excluding the Evening Standard) falling by 12% to £206 million.
Underlying circulation revenues were 7% lower than the same period last year. But circulation volumes are showing a marked improvement with the Daily Mail’s year-on-year performance in June down just 1% due to the success of the direct marketing campaign to recruit more long term loyal purchasers.