- Publisher Daily Mail & General Trust reported underlying adjusted pre-tax profit growth of 19% to £140m for the 12 months to 30 September.

Statutory pre-tax profit was down from £707m to £134m, reflecting the impact of disposals in the previous financial year and the loss of revenue from disposed businesses.

Chief executive Paul Zwillenberg said: 'We will continue with our active portfolio management approach, focusing on those assets that have the potential to drive good returns through strong cash flow generation and growth in capital value.

'We are now in the next phase of the group's transformation, optimising our business through targeted and disciplined investment whilst maintaining significant financial flexibility to enhance shareholder value. The recent acquisition of the 'i' demonstrates the opportunities we have to invest in high quality, content-led businesses with a compelling strategic and financial rationale.'

At 9:23am: [LON:DMGT] Daily Mail and General Trust PLC share price was +15.5p at 813.5p

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