"Further cost reductions" are on the way, according to parent company the Daily Mail and General Trust, which also owns the Daily Mail, the Mail on Sunday and the Metro.
Revenues at the regional Northcliffe newspapers fell by 9 per cent due to further declines in advertising. Operating profit fell by 35 percent.
Profits at the regional publisher fell £4 million year-on-year to £8 million.
Circulation revenues in the period were down 6 per cent; recruitment advertising revenues fell by 28 per cent.
Cost cutting and a reduction in headcount at the Daily Mail helped the company see a 5 per cent increase in adjusted operating profit despite a advertising revenues falling by 3 per cent.
DMGT bosses said they remains cautious despite a good performance in sectors such as B2B, which saw revenues rise by 14 per cent.
Daily Mail shares fell as much as 6.5 per cent as they reacted to company's tone.
"We remain cautious about the outlook for the full year due to the volatile and uncertain mark condition faced by our UK consumer businesses, where advertising revenues for April and the first three weeks of May have been below last year," Martin Morgan, chief executive, said in a statement.
Overall, DMGT saw a 3 per cent increase in revenue to £991 million, and an 8 per cent increase in operating profit to £144 million.
Free daily newsletter
If you like our news and feature articles, you can sign up to receive our free daily (Mon-Fri) email newsletter (mobile friendly).
Related articles
- Predictions for journalism 2024: AI and audience revenue
- Newsrewired throwback: What you learned at our previous digital journalism conference
- New platform helps hyperlocal journalists get paid for their stories
- Peter Jukes: 'More diversified media ownership is in the public interest'
- Average revenues up by 20 per cent for UK independent news publishers
