In analyzes apartments near university of minnesota twin cities response tothe metrodome examines expected decline in revenues, it took actions to restructure the business,cut costs and protect margins during the first half. The benefits from theseinitiatives are coming through in the second half, and the focus on cuttingcosts will be maintained until markets recover.Consumer mediaRevenues from the Group's consumer media operations in the quarter were £303million, 19% lower than for the corresponding period last year.A&N MediaGood progress is being made in achieving the cost reduction target announced inMay. The declines inadvertising, sponsorship and delegate revenues, which have been affected bycustomer budget cuts and tight cost controls, particularly in the financialsector, have continued at similar rates to those experienced in the secondquarter.The extreme credit market conditions and uncertainty over the global economicoutlook will continue to affect trading for the rest of the year. As expected,the rate of subscription revenue growth is now declining as the lag effect ofcuts in headcount and information buying by customers since the start of thecalendar year work their way through into revenues.
Revenues fell by 11% to £84 million, an underlying#decrease of 22%.Revenues from subscription-based products, particularly those deliveredelectronically, increased at a healthy 20% compared to a year ago baseball managers . DMG World Mediacontinued to reduce its costs and completed further divestments of its non-corebusiness lines in the quarter, including the sale of three business to consumerbusinesses and two regional business to retail businesses.Euromoney Institutional InvestorEuromoney announced its IMS on 22 July Trading for the quarter continued inline with expectations minnesota twins . This reflected the effect of the economic downturnparticularly on the Ideal Home Show, but also on B2B events twin babies clothes . Thetransaction closed on 17 July.DMGI continues to anticipate underlying# revenues to be only slightly belowlast year, with growth in the non-property markets offsetting the cyclicaldeclines from the property division.DMG World MediaDMG World Media's revenues for the quarter fell by 10% to £44 million, anunderlying# decrease of 15% when adjusted for non-annual events, timingdifferences and closures twin babies clothing . Hobsonsrevenues grew strongly, particularly from US technology product bookings, andGenscape continues to grow despite a reduction in power trading volumes.DMGI has acquired a small equity stake in CoStar, Inc., the US-listed providerof information services to commercial real estate professionals, asconsideration for PPR, its real estate analysis and forecasting business. Both Landmark(UK) and EDR (US) are continuing to manage their cost bases closely.Other marketsTrepp experienced strong growth in new sales bookings in the quarter, includingsigning a major deal with the Federal Reserve Bank of New York to act ascommercial mortgage backed securities (`CMBS') collateral monitor for thegovernment's Term Asset-backed Loan Facility ("TALF") programme.
At constant exchangerates and excluding disposals in the prior year, there was an underlying#decrease of 1% baseball tickets . The underlying growth of 8% in its non-Property businessesoffset the impact of the continuing weakness in property transactions.Property InformationRecent months have seen a stabilising of the property markets, with UScommercial property transaction levels remaining stable throughout the quarteralbeit at low levels, and in the UK, whilst residential transaction volumes areapproximately 60% below their normal levels, there are some tentative signs ofa slight recovery in the housing market from its January low twin babies gifts . Revenues rose by 3% on an underlying# basis.RMS's underlying# growth reflects solid bookings in its core modelling businessincluding a number of successful large deals twin babies products . Growth in its earlier stagecapital markets business remained muted due to the impact of the less robustcapital markets on the volume of new catastrophe bond issuances.As a consequence of the continuing action taken to contain cost increases, RMSremains on track to achieve underlying# growth in profits*, as well asrevenues, for the full year.DMG InformationDMGI's revenues rose in the quarter by 3% to £55 million metrodome . The decisive action taken to defendprofitability earlier in the year, along with the continued management of ourcost base, is helping to offset the impact of these conditions. The revenue andcost initiatives targeted to improve profitability this year by £150 millionhave been delivered.Our strategy of creating a diversified international portfolio ofmarket-leading businesses in both business and consumer markets is proving tobe effective in the current environment and leaves us well positioned todeliver long-term growth."Business to business (`B2B')Revenues from Group's B2B operations in the quarter were £216 million, 3% lowerthan for the corresponding period last year.Risk Management SolutionsRMS's revenues for the quarter rose by 29% to £33 million, benefitingsignificantly from the stronger dollar in which currency the majority ofrevenues are billed. * Net debt down £85 million since 29 March to £1,142 million.
Martin Morgan, Chief Executive, said:"Since we last reported in May, trading conditions have remained weak in linewith the Board's expectations joe mauer . * Revenue from the Group's business to business operations only 3% lower * Continued weak trading conditions within consumer media * Significant cost reductions delivered * Trading remains in line with the Board's expectations minnesota twins . 23 July, 2009Daily Mail and General Trust plc (`DMGT') Interim Management StatementThis Interim Management Statement (`IMS') covers the third quarter of DMGT'sfinancial year to 30th June 2009 and describes the Group's financial positionand performance during the period, updated to the latest practicable date.Summary of the period:* Revenue for the third quarter £520 million down 13% on last year twin babies clothes . The Fund will have a substantial internationalexposure, with up to 40% permitted to be invested in securities on theAustralian Stock Exchange or the Toronto Stock Exchange.-ENDS- Enquiries:Bishopsgate CommunicationsNick Rome/Will Tindall020 7562 3350Daniel Stewart & Company PlcStewart Dick020 7776 6550END .