Trinity Mirror’s has reported a 14.4% fall in ad revenue across its national titles in the first six months of the year and a 34.5% decline across its regional division.
Total group revenues fell by 16.9% year on year to £383 million in the first six months. Total ad revenue was down 28% to £168.4 million while circulation revenues fell 4.2% to £169.8 million.
The owner of the Daily Mirror also saw a fall in operating profit, down 31.4% to £49 million, with pre-tax profits falling 39.5% to £31.3 million.
Total revenue at Trinity’s regional division was down 28.2% year on year to £155.4 million while ad revenue fell 34.5% to £104 million. Regional circulation revenues declines 8.1% year on year to £36.5 million in the first six months of 2009.
The division’s digital revenues declined by 16.9% to £16.2 million.
Total revenue at Trinity’s national newspaper division fell 6.9% year on year £227.6 million. Ad revenues were down 14.4% to £64 million, while circulation revenues dipped 3.1% to £133 million.
Sly Bailey, Trinity Mirror CEO, said: “The economic slowdown continued to impact our business throughout the period.
“However, a combination of prudent cost reduction measures, the introduction of cutting-edge IT systems driving new, more efficient ways of publishing, stable financing and more resilient circulation revenue continues to support profitability and positions the business for post-recession growth.”
