Newspaper publisher Daily Mail & General Trust (DMGT) posted a 9 per cent rise in profits today and reported "a gentle recovery" in advertising.
The owner of the Daily Mailand Evening Standardsaid pretax profits were up to a record £260 million sterling in the 12 months to October 1st. DMGT also publishes an Irish edition of the Daily Mail.
The company said the new year started well with the advertising market strengthening at its national titles, although there was not much of a recovery at its regional arm Northcliffe.
The newspaper industry has been hit by a fall in advertising spend through traditional media outlets with the emergence of the Internet as a marketing tool.
DMGT has responded by investing in websites such as Simply Switch, Jobsite, Find a Property and Prime Location, and it today said 47 per cent of its £300 million operating profits were generated away from its newspaper print titles, compared with 40 per cent the previous year.
DMGT today said its newspapers "performed credibly under difficult trading conditions" with its newspaper websites growing strongly and "producing good returns".
DMGT launched its free London Litenewspaper in the capital in August in a head-to-head battle with Sunand Timesowner News International, which launched thelondonpaper.