British newspaper publisher Daily Mail & General Trust has predicted a good half-year trading performance despite falling sales at its daily London tabloid, the Evening Standard.
The publisher of the Daily Mail, which owns Ireland on Sunday and is one of Britain's biggest selling newspapers, said overall classified ad revenues at its national newspapers were up 1.2% to the end of February.
'National newspaper advertising revenues have increased, but it still remains too early to call the turn in this market,' the firm said.
Daily Mail & General Trust, a prospective bidder in an auction of the country's biggest-selling broadsheet, The Telegraph, said sales of the Daily Mail and The Mail on Sunday titles were outperforming a weaker market, while Evening Standard sales were down 5% in 'a very challenging market'.
'With newsprint prices unchanged in 2004 from 2003 and, in particular, lower costs for the Evening Standard, the growth in revenues is feeding through to the trading profit,' it added however.
Daily Mail & General Trust is reported to have held talks with a US media mogul about making a joint bid for Hollinger International, owner of the The Telegraph titles. The Observer newspaper reported in December that it had been in contact with Mort Zuckerman, owner of the New York Daily News, about Hollinger's publishing assets, which also include the Jerusalem Post and the Chicago Sun-Times.
