| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: MEDIA |
Trinity Mirror sees advertising improvement |
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Thu 04 Mar 2010
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LONDON (SHARECAST) - Newspaper publisher Trinity Mirror saw a sharp fall in profits in 2009 as advertising sales slumped and circulation revenues were squeezed, but said it had seen an improvement in advertising towards the end of the year.
Pre-tax profits in the 53 weeks to January 3 fell to £72.7m from £124.2m over the preceding 52 week period on revenues that were down to £763.3m from £871.7m.
Revenue in the regionals division, which includes titles such as the Birmingham Post and the Liverpool Echo fell by 23.5% to £302.9m from £396m, while the nationals division, including the Daily Mirror, saw a more modest fall of 3.2% to £460.4m from £475.7m.
In the regionals division, advertising revenues fell to £198.9m to £282.3m, while circulation revenues fell to £72.5m from £77.1m. Ad sales fell to £132.9m from £144.2m at the nationals division, while circulations held up well, slipping by just 0.5% to £266.8m from £268.2m.
‘Whilst the severity of the economic downturn experienced during 2009 impacted Group revenues, the resilience of our brands and commitment of our staff ensured that we delivered profits ahead of expectations,’ said chief executive Sly Bailey.
‘We continued to reap the benefits of our investment in cutting edge IT systems which are driving new, more efficient ways of publishing across media platforms.’
Trinity Mirror said it had become a more resilient operation during 2009, increasing non-advertising revenues to 57% from 51% and lifting more dependable non-classified advertising sales to 58% of advertising revenue from 50% in 2008.
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