Trinity Mirror says ad revenue decline slowing
Trinity Mirror, owner of The Daily Mirror and People newspapers, says half-year advertising revenues slumped 28% but says the decline in revenues is slowing.
The publisher reports ad revenues for its national newspaper division slid 14.4% to £64.4m in the 26 weeks to 28 June while revenues from its regional newspapers dipped 34.5% to £104m
Circulation revenue across both its national and regional titles fell 4.2% to £169.8m.
However, the group says there has been a “gradual improvement” in the rate of revenue decline towards the end of its first half, which is “expected to continue for the remainder of the year”.
The company says group revenues fell by 13% year on year in July compared with a 16.9% fall over the half-year.
Sly Bailey, chief executive, says despite the revenue declines the firm’s “tight cost management coupled with the strength of our products across media” means it is in a good position for “post recession growth”.
Earlier this week, Trinity appointed Lorraine Fraser as marketing director for its five national titles.
