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Daily Mail lowers guidance as advertising markets deteriorate

Reuters - UK Focus

LONDON, July 23 (Reuters) - The publisher of the Daily Mail newspaper and website said it had seen a "marked deterioration" in the British print advertising market that would result in full-year results coming in at the lower end of expectations.

It said total underlying advertising revenues across its DMG (Shenzhen: 002143.SZ - news) Media unit were down 6 percent in the three months to end-June compared to last year.

The market expects the Daily Mail & General Trust to report revenues between 1.82 billion pounds and 1.93 billion pounds and adjusted pretax profit between 275 million pounds and 292 million pounds, according to the company.

DMGT join rivals Trinity Mirror (LSE: TNI.L - news) and Johnston Press (LSE: JPR.L - news) in warning of weaker ad markets. (Reporting by Paul Sandle; editing by Kate Holton)