Daily Mail & General Trust expects close to 40% of group revenues to come from digital this year, up sharply from 32% a year ago, as it diversifies further beyond print newspapers.
Finance director Stephen Daintith said MailOnline, the website of the Daily Mail paper, made a monthly profit for the first time in July as revenues soared 69%.
He said DMGT’s move into digital by building and acquiring businesses such as jobs website Jobrapido was part of a strategy to cope with “the challenges facing the print industry”.
Its national papers are getting a boost from the Olympics and Diamond Jubilee. Advertising rose 2% in June and could go higher in July, with free paper Metro set for double-digit growth.
Group revenues are up 3%, with the business-to-business arm, which includes financial data and events, up 8%.
Daintith said DMGT, a minority shareholder in the Evening Standard, was largely unaffected by the eurozone as its overseas interests are mainly in the US.
