Daily Mail & General Trust plc - Class A Shares (DMGT)

Half Year Financial Highlights:

Preliminary Full Year Financial Highlights:

Half Year Financial Highlights:

Preliminary Full Year Financial Highlights:

Half Year Financial Highlights:

Dividend increased by 5%

Outlook for the full year unchanged

Martin Morgan, Chief Executive, said:

"We have delivered a good underlying performance in the first half reflecting
the strength of our B2B companies and the resilience of our national consumer
titles. As expected, reported operating profit increased despite a decline in
reported revenue resulting from recent disposals.

Our international B2B companies have increased their underlying revenues and
profits* by 6% and 5% respectively. Our UK consumer business, dmg media,
continued to experience challenging conditions and underlying revenues were
slightly down, although the increase in digital revenues more than offset the
decline in print advertising revenues and the business delivered a 7%
underlying increase in operating profit*.

We have continued to actively manage our portfolio of businesses and have made
several acquisitions and disposals during the period and into the second half,
to improve the overall quality and growth prospects of the Group.

Relative to last year, the first half of the year benefited from the timing of
biennial events and the absence of a bond redemption premium. Conversely we
expect the comparatives in the second half of the year to be adversely
impacted by the timing of biennial events and the Olympics, which were one-off
benefits for us in the second half of the last financial year. Overall, the
outlook for the full year remains unchanged."

Interim Management Statement

This Interim Management Statement (`IMS') covers the first quarter of DMGT's financial year, the three month period to 30th December, 2012. It describes the Group's financial position and performance during the period, updated to the latest practicable date.

Trading in line with our expectations; outlook for the year unchanged:

* Revenue for the first quarter of £503 million, underlying# growth of 3% on
last year

* Continued good underlying# growth of 8% from our B2B businesses

* Underlying# revenue decline of 4% at Associated Newspapers (now dmg media);
improved profit margin driven by cost efficiencies

* Further B2B bolt-on acquisitions

* Disposal of Northcliffe Media effective 30th December, 2012

* Commencement of share buy back programme

* Outlook for the year unchanged

GOOD YEAR OF PERFORMANCE

- Group revenues down 1%, an underlying increase of 3%

- Good growth from B2B: revenues up 1%, an underlying increase of
7%; with profits up 7%, an underlying increase of 8%

- Associated's underlying revenues were up 2%, with a slight
improvement in operating margins

- Operational focus at Northcliffe: profits up 54% despite
underlying revenues down 6%

- Group operating profit of £300m, up 7% on a reported and
underlying basis; operating margin increased from 14% to 15%

- Profit before tax of £255m, up 10%

- Active portfolio management: purchase of Jobrapido; sale of Evanta and
remaining stake in dmg radio Australia; creation of Zoopla Property Group
joint venture and, in November 2012, disposal of A&N Media's digital
operations in central Europe

- Disposal of Northcliffe Media agreed in November 2012; adjusted results
excluding discontinued operations shown on page 20

- Net debt reduced by £106 million to £613 million; net debt: EBITDA of 1.6
times

- Share buy back programme of up to £100m over the coming year

- Earnings per share up 7% to 49.4p; full year dividend increased by 6% to
18.0p.

Martin Morgan, Chief Executive, said:

"DMGT has delivered a good set of results in the 12 months to 30
September. Group adjusted pre-tax profits rose by 10%. Our international B2B
companies have increased their revenues and profits by 7% and 8% respectively
on an underlying basis. Although our UK consumer businesses were impacted by
challenging trading conditions, it was particularly pleasing that Associated
was able to grow its revenues by 2% on an underlying basis and that
underlying profits for the consumer businesses rose 12% - reflecting greater
productivity and efficiency linked to continued digitisation in that division.

We continued to refine our portfolio of businesses during the year
with further acquisitions and disposals aimed at improving our long term
growth potential. Today we are a more focused and financially stronger Group,
leaving us well positioned for 2013 and beyond."

This article which appeared in the Saturday edition of the FT on 27th October talks about investors chasing dividends. It is a good read and vindicates our stance that the only reason to invest in equities at the present time is for Dividends.

Ahead of the year end on 30th September, 2012, this statement provides an update on the Group's progress in the current year. It covers the eleven month period to the end of August 2012 and includes comments on September, where appropriate.

Summary