Trinity Mirror says it remains confident that the advertising market will stabilise despite a 4% fall in advertising revenues across its national titles contributing to a downturn across the group in the first quarter.
It also saw group advertising dip by 2.4% over the quarter but it says: “We continue to have confidence that our 2007 performance will be in line with expectations.”
The fall in advertising revenues for the national titles was partially offset by an upturn of 0.9% across the group’s Scottish national titles, which include the Daily Record. It also reported strong growth at its sports division, which saw revenue increase by 17.7%, and digital revenues for its regional titles, including organic and acquired businesses grew by 24.8%.
Trinity Mirror adds that its planned disposal of its regional business in the Midlands, London and the south east and its sports division is on schedule and should be completed by the second or third quarter of the year.