Newspaper publisher, Trinity Mirror, is expected to announce pre-tax profits of up to £200 million for 2004, compared to £172.5 million in 2003.
This total is in line with previous predictions by Trinity, after releasing a very positive trading update of its expected results for 2004 in December, revealing strong growth in all of the groups divisions (see
Trinity Mirror Delivers Positive Trading Update).
It is thought that chief executive, Sly Bailey, will urge investors to focus on the group’s strengths and the efficiency drive, that is claimed to be on target to produce savings of £35 million by the end of 2005.
Industry sources are speculating over Bailey revealing details of new consumer titles and updating investors in the performance of The One, a Yellow Pages style directory that includes editorial content, according to a report in the Financial Times.
The end of 2004 saw Trinity rebuff rumoured take over bids from private equity group CVC Capital Partners, with sources stating that Bailey would be likely to oppose any takeover approach, after allegedly rebuffing a second takeover from private Candover Investments (see Trinity High Share Price Thwarts Takeover).
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