Trinity Mirror revenues fall
TRINITY Mirror, publisher of the Daily and Sunday Mirrors, has suffered a 10 per cent fall in advertising revenues so far this year.
The company added it continued to face challenges from the “fragile economic environment, adverse effect of public-sector spending cuts and tax increases” as circulation revenues slumped 5 per cent for the four months to the start of May.
“These factors continue to adversely impact the key drivers of our business, such as consumer confidence, unemployment and the property market, and are contributing to revenue declines,” Trinity said in a statement.
It said advertising revenues from the public sector had crashed 47 per cent and its shares, which have fallen by about 39 per cent since March, lost a further 3.4 per cent, or 1¾p, to 50p.
The company saw debt jump by £20million to £286million.
Trinity said advertising fell 10 per cent in its regional newspapers and dropped 9 per cent in its national publications. The figures stripped out the acquisition of Manchester Evening News publisher GMG Regional Media from the Guardian last March.
