Daily Mail owner looks at possible job cuts as newsprint costs soar

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The owner of the Daily Mail Mail on Sunday and Metro newspapers has said it is weighing up possible job cuts due to soaring costs for newsprint, energy and distribution. As a result, it said: “DMGT is currently exploring a number of options to mitigate the impact of these cost increases, including a review of employee numbers.” The company explained: “There have been recent substantial increases in distribution and energy costs, as well as increases in the cost of newsprint at levels not seen since 1996, and these have started to impact the profitability of the newspaper businesses.” The warning came less than 24 hours after the editor of the Daily Mail Geordie Greig left his job and was replaced by Mail on Sunday editor Ted Verity. This resulted in Metro making a substantial loss in the year.” By comparison, revenues at the Mail newspapers and website grew by 3% to £518 million, with £164 million generated by MailOnline Advertising revenues were down for print titles by 1% and up 16% on MailOnline, with the company pushing hard for visitors to come to the site directly, rather than via search engines. “Circulation volumes of the Mail and i are expected to decline from current levels, whilst Metro’s will depend on commuter traffic.” At a group level, DMGT said revenues were up from £870 million to £885 million in the 12 months to the end of September, but it swung to an overall pre-tax loss of £2 million compared with a £34 million profit a year ago due to banking cash from the sale of parts of the business previously.