DMGT Trading Update

DMGT has reported 2% year-on-year growth in revenues on an underlying basis for the five-month period to the end of February 2013.

In an update released this morning, the international group, which owns a portfolio of market-leading digital, information, media and events businesses, said trading is in line with expectations and the outlook for the year remains unchanged.

A growth of 5% by its B2B companies and an improved profit margin at consumer media company dmg media, despite a 2% decline in revenues, contributed to the overall performance, DMGT said.

The portfolio's performance highlights include:

• Risk Management Solutions delivered continued growth of 5%.
• dmg information businesses Hobsons (education), Landmark and EDR (property) and Genscape (energy) delivered double digit growth.
• dmg events biennials ADIPEC and Gastech drove underlying growth of 13%.
• For the six months to March, Euromoney Institutional Investor is expected to report adjusted profit before interest and tax broadly in line with last year despite challenging market conditions.

dmg media, which is also the focus of tomorrow's DMGT Investor Briefing at the London Stock Exchange, reported that underlying digital advertising growth exceeding print advertising decline. Its digital assets, including global digital recruitment business Evenbase and Zoopla Property Group, continued to perform strongly.

The full trading update, including extended commentary of dmg media's performance ahead of tomorrow's DMGT Investor Briefing, is available on the reports and presentations page on DMGT.com.

You can download an mp3 version of the Trading Call here. 

Tomorrow's event will be streamed live from 1.30pm UK time (9.30am ECT). You are invited to join the webcast by registering online at dmgt.com/webcast. Video content will also be available on demand after the event.