September 29, 2016 / 6:26 AM / 10 months ago

BRIEF-Daily Mail says will take 50 mln stg restructuring charge

1 Min Read

Sept 29 (Reuters) - Daily Mail And General Trust Plc

* Reorganisation initiatives, which include headcount reductions expected to result in total cash-related exceptional operating costs of about £50 million, rather than £15 million previously guided to in may 2016

* Group outlook for 2016 remains in line with current market expectations

* Dmg media underlying revenue decline of 2% with weak uk print advertising market, partly offset by digital advertising growth and robust circulation revenue

* Full year results expected to be in line with current market expectations

* Year to date underlying ad revenues down by an underlying 4%, with a 12% decline in print partly offset by 17% growth in digital

* For five weeks since 21 august 2016, total ad revenues for business have decreased by an underlying 10% Source text for Eikon: Further company coverage: (Reporting By London Bureau)

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