Slump in ads rocks Trinity Mirror price

A NEW slump in advertising at Daily Mirror publisher Trinity Mirror sent its shares diving yesterday, wiping £40million off its stock market value.

A slump in advertising at Daily Mirror publisher Trinity Mirror sent its shares diving A slump in advertising at Daily Mirror publisher Trinity Mirror sent its shares diving

In a trading update the company, which also publishes the Sunday Mirror, Daily Record and The People, said September was particularly tough.

Trinity Mirror shares dived 15.3 per cent, down 16p to 88Op, the lowest since July and down from 186p a year ago.

FOLLOW THE EXPRESS ON TWITTER!

The company said trading remained volatile due to the fragile economic environment and uncertainty from the Government spending review.

Excluding the contribution from GMG Regional Media, the regional newspaper business it bought in February from Guardian Media Group, Trinity’s revenues for the 17 weeks to the end of October fell 5.4 per cent.

Advertising was down 4.6 per cent and circulation revenue down 6.7 per cent.

Trinity Mirror’s regional newspapers, excluding GMG titles, suffered a 6.7 per cent drop in advertising revenues and a 7.1 per cent drop in circulation revenues.

Its national newspapers saw advertising revenues fall 1.3 per cent but were hit by a 5.9 per cent plunge in September. Circulation revenues were down 6.5 per cent.

The company said its net debt at the end of the period was £288million, against a market value of £229million.

Comments Unavailable

Sorry, we are unable to accept comments about this article at the moment. However, you will find some great articles which you can comment on right now in our Comment section.

Would you like to receive news notifications from Daily Express?