UK publisher Daily Mail and General Trust announced Tuesday it has cut the rate of decline in ad revenue in half at its flagship daily, the Daily Mail, the Times Online reported yesterday.

Advertising at the title in September was down 10 to 12 percent, versus a 21 percent decline in July and August. However, the DMGT's finance director said he "refused to call the bottom, in case it turns out we are on a ledge," according to the Times article.

Overall, advertising at Northcliffe Media, which publishes DMGT's regional papers, was down 31 percent for the 11 months ending Aug. 31, according to the BBC. Meanwhile, at Associated Newspapers, which publishes the Daily Mail and Metro, saw ad revenues slide 16 percent in the same period.

DMGT management has said it will "at least" meet market expectations for the year's profits.

"We are confident that we will at least meet market expectations for adjusted profits for the full year due to decisive actions taken on costs, with £150 million savings delivered," DMGT said in a statement, according to the Telegraph.