British newspaper publisher Daily Mail & General Trust predicted a good half-year trading performance today despite falling sales at its daily London tabloid, the Evening Standard.
The publisher of the Daily Mail, one of Britain's biggest selling newspapers, said overall classified advertising revenues at its national newspapers, including the Mail, were up 1.2 per cent to the end of February.
Daily Mail & General Trust, a prospective bidder in an auction of the country's biggest-selling broadsheet, the Telegraph, said sales of the Daily Mailand the Mail on Sundaytitles were outperforming a weaker market, while Evening Standardsales were down 5 per cent in "a very challenging market".
Classified ad revenues were also falling at the Evening Standard.
But the company added: "With newsprint prices unchanged in 2004 from 2003 and, in particular, lower costs for the Evening Standard, the growth in revenues is feeding through to the trading profit."
Daily Mail & General Trust is reported to have held talks with a US media mogul about making a joint bid for Hollinger International, owner of the Telegraphtitles.
The Observernewspaper reported in December that it had been in contact with Mr Mort Zuckerman, owner of the New York Daily News, about Hollinger's publishing assets, which also include the Jerusalem Postand the Chicago Sun-Times.