The Daily Mail and General Trust gave warning that its full-year results would be at the lower end of expectations as the advertising downturn at its national and regional titles took its toll.

Viscount Rothermere, the DMGT chairman, said: “Inevitably, the worsening economic conditions are having an impact on our newspaper and property businesses.”

The group said that total revenue across the group for the 11 months to August 31 was up 4 per cent year on year and that Northcliffe Media, its regional newspapers division, suffered a 5 per cent decrease in total revenues compared with the same period last year, with advertising revenues down 9 per cent.

However, digital revenues, which now represent 6 per cent of the division’s total advertising revenues, were 46 per cent ahead of last year.

The group said that all major advertising categories remained under pressure with property down 19 per cent, recruitment down 9 per cent, retail down 3 per cent and motoring down 12 per cent.

“Trends deteriorated again in July and August, particularly in the property and recruitment sectors, with comparable UK advertising revenues down on the prior year by 22 per cent,” DMGT said in a statement, adding that property revenues were 45 per cent below the previous year and recruitment revenues were down 28 per cent. It added that in September there had been a further deterioration, with advertising revenues down 24 per cent.

DMGT shares were down 3p, or 0.9 per cent, at 331.5p at the close.

The group’s national newspaper division, Associated Newspapers, increased its total revenues by 1 per cent, according to DMGT’s trading update. This increase was helped by a 1 per cent year-on-year rise in the division’s circulation revenues, which rose after the Daily Mail’s cover price rose from 45p to 50p earlier this year.

However, the group said that advertising in July and August at Associated fell 3 per cent and it is expecting a difficult September. In those two months, newspaper advertising revenues fell 2.6 per cent.

DMGT said that operating profit for the full year would inevitably reflect the worsening advertising revenue conditions. Current market expectations of earnings for this year range from £257 million to £279 million. It is understood that results will be at the lower end of forecasts.

However, Viscount Rothermere remained optimistic about DMGT’s future.

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