Date: Thursday 13 Mar 2014
LONDON (ShareCast) - Strong digital demand and an organisational shake-up have driven annual profits higher at newspaper publisher Trinity Mirror.
Trinity, which owns the Daily and Sunday Mirror and the People, said digital revenue in its publishing division underwent a turnaround during the year.
They moved from a first-half fall of 10% to 16.8% growth in the second half and a 32% gain in the final two months of the year.
Average monthly unique users and average monthly page views across the publishing business rose year-on-year by 58.9% to 41.1m and by 66.3% to 221.8m respectively.
"We are already seeing signs of how we can drive revenues from the growth in our digital audience, with digital display advertising growing year on year by 30.1%," Trinity Mirror said.
The group has also been integrating its publishing operations across the UK by setting up divisions that produce editorial material and advertising for all its papers, which also include regionals such as the Liverpool Echo and Birmingham Mail.
It has launched new free weekly newspapers in Scotland and more localised editions of its English regional titles, given a fresh look to the Mirror and Sunday Mirror and closed the Liverpool Post.
Group pre-tax profit in the 52 weeks to December 29th rose 2.6% to £101.3m despite a 6% fall in revenue to £663.8m.
Chief Executive Simon Fox, who came to the group from ailing CD and DVD retailer HMV, said: "Strong print and digital revenue trends at the end of 2013 enabled us to finish the year ahead of expectations.
"I am particularly pleased with our rapidly growing digital audience and with the benefits we are driving in harnessing the combined strength of our national and regional titles.
"I look forward to making further progress with our strategic objectives during 2014."
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