Daily Mail’s editor sells almost all of his shares in parent DMGT
DAILY MAIL editor Paul Dacre has sold nearly three quarters of his shares in parent company DMGT, according to a regulatory filing.
Dacre sold more than 100,000 A shares on Tuesday, netting him more than £400,000, a company filing shows.
He is left with just 37,861 shares in the company, which also owns the Metro and various regional and business titles.
The shares were sold at just over 400p each, in line with the market price on Tuesday, though the stock fell two per cent to 387.9p yesterday – the lowest closing price since December.
Last week the firm reported a 14 per cent drop in adjusted pre-tax profit to £105m for the six months to April as it grapples with soaring costs amid a restructuring.
Operating profits at Associated Newspapers, the branch of the business that houses national newspapers including the Daily Mail, fell 26 per cent to £34m after advertising revenues fell four per cent and the firm made fresh investments in the fast-growing digital ventures.
DMGT’s press office did not respond to a request for comment.