ARE YOU ENCOURAGED BY DMGT’S TRADING UPDATE?
ANDY VINER BDO STOY HAYWARD
“DMGT is also benefiting from having reacted early to the downturn with a cost control programme of around 15 per cent of its workforce. It was also encouraging to see comments around positive cash flow and continued net debt reduction. It now looks to be boosted by an improved advertising outlook for September.”
GARETH DAVIES INVESTEC
“A solid pre-close trading statement from DMGT. Management confirming that they are confident that they will at least meet market expectations for adjusted profit for the year. Net debt down since the third quarter is a positive and looks to be comfortably ahead of our forecast.”
CHARLIE MENEGATOS ACCENDO MARKETS
“Overall DMGT said it was confident of at least meeting market expectations for adjusted profits for the full year after a concerted cost cutting effort, and said that while September has been better, there is still little visibility on future advertising performance as trading remains volatile.”