First Quarter Trading Update: Solid performance, in line with market expectations

25.01.18

In its Trading Update released today, DMGT has announced a solid first quarter performance, with underlying revenues up 2% and an unchanged outlook for the full year.

The Group's B2B business delivered underlying revenue growth of 4%, with positive growth in the Insurance Risk, EdTech, Energy Information and Events and Exhibitions sectors.

DMGT's Consumer business, dmg media, reported an underlying revenue decline of 1%, reflecting lower circulation volumes, albeit with the Mail Newspapers titles growing their market share. There was underlying advertising revenue growth of 2% across dmg media, with the 3% decline in print being more than offset by 9% growth from digital.

DMGT CEO, Paul Zwillenberg said:

'The work we have done to reshape our portfolio over the past 18 months is starting to bear fruit, with our B2B businesses increasing their underlying revenues by 4%. This underpinned a solid first quarter performance for DMGT with underlying revenue growth of 2%, in line with our expectations.

Our outlook for full year 2018 is unchanged and we remain focused on delivering against our Group-wide Performance Improvement Programme.'

Performance by Business

Insurance Risk (RMS)

Underlying revenue growth of 5% was delivered alongside the continued roll-out of applications on the RMS(one) platform, with encouraging response from clients.

Property Information

Revenue was on an underlying basis, as growth from the US businesses was offset by reductions in Europe, given volumes in the UK property market.

EdTech (Hobsons)

Underlying revenue growth of 12% reflected continued strong growth from each of the businesses: Naviance, Intersect and Starfish.

Energy Information (Genscape)

Underlying revenue growth of 4% was delivered with continued growth from the oil, power and gas businesses, partly offset by declining revenue at the solar business.

Events and Exhibitions (dmg events)

Underlying revenue growth of 7% reflected continued growth from the Big 5 Dubai and ADIPEC shows which were held in November.

Consumer(dmg media)

Underlying advertising revenue growth of 2% was delivered across dmg media, with the 3% decline in print being more than offset by 9% growth from digital.