Advertisement
UK markets open in 2 hours 38 minutes

  • NIKKEI 225

    37,900.30
    +271.82 (+0.72%)
     

  • HANG SENG

    17,626.75
    +342.21 (+1.98%)
     

  • CRUDE OIL

    83.86
    +0.29 (+0.35%)
     

  • GOLD FUTURES

    2,347.00
    +4.50 (+0.19%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • Bitcoin GBP

    51,381.08
    +59.64 (+0.12%)
     

  • CMC Crypto 200

    1,388.70
    +6.13 (+0.44%)
     

  • NASDAQ Composite

    15,611.76
    -100.99 (-0.64%)
     

  • UK FTSE All Share

    4,387.94
    +13.88 (+0.32%)
     
Stocks:

Trending tickers

Microsoft, Alphabet, Anglo American, IBM, Astrazeneca, Unilever and Sainsbury's

Britain's Daily Mail owner cuts outlook for Information unit

Reuters - UK Focus

LONDON, Jan 26 (Reuters) - The owner of the Daily Mail newspaper cut the revenue outlook for its Information division on Thursday, saying the unit had been hit by a slowdown in the British property market.

Shares (Berlin: DI6.BE - news) in Daily Mail and General Trust fell 7 percent after it reduced its revenue forecast for the Information unit to mid-single digit growth, from a previous forecast of high-single digit growth.

Daily Mail said its overall profit outlook for the year was unchanged and that it was otherwise trading in line with its expectations. First (Other OTC: FSTC - news) quarter revenue came in at 520 million pounds ($657 million), in line with last year on an underlying basis.

The group also said that it had reduced its stake in Euromoney, a separate business information company, from around 67 percent to around 49 percent.

Euromoney added that it was trading was in-line with the board's expectations, though underlying revenues fell by 5 percent. ($1 = 0.7914 pounds) (Reporting by Alistair Smout; editing by Kate Holton)