July 23, 2020 / 6:31 AM / 12 days ago

Daily Mail publisher's nine-month op profit falls 44%

FILE PHOTO: A clock face is seen outside of the London offices of the Daily Mail newspaper in London, Britain, April 28, 2018. REUTERS/Toby Melville

LONDON (Reuters) - The publisher of the Daily Mail newspaper reported a 44% drop in nine-month operating profit after growth in the first five months was wiped out by the COVID-19 pandemic, although it said its newspapers and website had returned to profit in June.

Daily Mail and General Trust (DMGOa.L) reported adjusted operating profit of 63 million pounds ($80 million) for the nine months to end-June on revenue of 934 million pounds, down an underlying 7%.

The group, which is not issuing guidance for the year, said on Thursday its consumer media unit had returned to profitability in June, with a mid-single digit adjusted operating margin in the month.

Reporting by Paul Sandle; editing by James Davey

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