DMGT says:
The Group revealed a good performance from its B2B businesses, with underlying revenue growth of 1% and underlying profit decline of 5%. Consumer media business, dmg media, saw revenue down by an underlying 2%, and profit down by an underlying 23%, reflecting increased digital investment alongside a resilient newspaper margin.
Active portfolio management has continued throughout the year with the majority of acquisitions and investments made by dmg information.
Risk Management Solutions saw revenues increase by an underlying 1%. The core modelling business experienced continuing demand for its subscription services, including the new high-definition models launched in the year, and overall renewal rates remained comfortably above 90%.
dmg information continued to grow during the year with overall revenues up by an underlying 6%. Genscape and Hobsons both delivered double-digit underlying revenue growth. The property information businesses faced some challenging market conditions although overall delivered a solid revenue performance.
dmg events had another year of growth despite challenging conditions in the energy market as a consequence of the low oil price. Revenues increased by 2% on an underlying basis. The operating profit margin improved to 28%, benefiting from the occurrence of Gastech.
Euromoney Institutional Investor released its preliminary results on 24 November. Revenues were in line with the prior year, including the benefit of the stronger US dollar, although declined by 4% on an underlying basis. View their Preliminary Statement here.
dmg media revenues declined by an underlying 2%. There was good underlying growth from the digital businesses and declines in print advertising and circulation revenues. MailOnline’s advertising revenues increased by an underlying 19%. Revenue at Metro declined by an underlying 9%, although significantly outperforming the UK National Newspaper advertising market.
DMGT also outlined its strategy following a strategic review. Key priorities focus on improving operational execution, increasing the portfolio’s focus and enhancing financial flexibility.
The Group has entered the new financial year with its businesses performing in line with expectations. The B2B sector as a whole is expected to continue to deliver underlying revenue growth. On the consumer side, revenue progress will be largely dependent on the print advertising environment, balanced against further growth in digital areas, although a continued focus on cost efficiencies should provide margin stability for dmg media.
Paul Zwillenberg, Chief Executive, said, “DMGT’s results reflect the ongoing resilience of the portfolio through varying market conditions. Revenues were supported by good organic growth in many of our B2B and consumer digital operations. This was balanced by challenging market conditions for print advertising, property information, energy and financial sectors.”
