DMGT – trading update for the six-month period to the end of March 2012

DMGT has issued an update on the Group’s progress in the current year. It covers the six-month period to the end of March 2012.

Summary

-       Solid Group revenue performance, up 2% underlying

-       Good underlying growth from B2B operations

-       Resilient revenue performance at Associated; circulation and digital revenue growth largely offsetting print advertising weakness

-       Active portfolio management; targeted acquisitions and disposal of non-core assets

-       Outlook for the year remains unchanged.

 

Acquisition activity

Active portfolio management has seen further bolt-on acquisitions, including:

-       Intelliworks – a top provider of relationship management solutions for higher education (dmgi – Hobsons)

-       PrepMe – a leader in adaptive learning technologies and test preparation programs (dmgi – Hobsons)

-       SpringRock – a cutting-edge provider of dynamic production forecasts for the oil & gas industry (dmgi – Genscape)

-       Global Grain Geneva and Global Grain Asia – international grain trading conferences (Euromoney) (A Fusion deal – click here for details)

-       Jobrapido – one of the world’s largest job search engines (Associated -Evenbase)

This continuing portfolio management activity has also seen A&N Media selling its interests in Top Consultant, motors.co.uk and Teletext.

Yesterday, the Office of Fair Trading gave clearance for the proposed merger between the Digital Property Group and Zoopla to go ahead.

Read the full announcement here

UK, London

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