Trinity Mirror revenues fall 5%

Trinity Mirror has reported a year on year fall of 5% in like for like revenues for the first 17 weeks of the year, with group ad revenue also down 5%.

Group advertising revenue was down 3% in January and February and 6% in March and April. Circulation figures were down 6%.

Ad revenues at Trinity Mirror’s national newspaper division were flat year on year and down 8% at its regional newspaper operation.

Group digital revenues were also down on a like for like basis, by 8% year on year for the period.

The figures exclude the impact of the Guardian Media Group Regional business, bought by Trinity Mirror earlier this year.

Trinity Mirror said: “Trading conditions continue to be volatile with limited visibility on revenues, factors that were exacerbated during April in the run up to the general election. The trading environment continues to affect all our sources of revenue, although we expect the rate of decline to ease as we progress through the remainder of the year and we benefit from weaker comparatives. We expect month on month volatility to continue.

“We continue to manage the cost base appropriately delivering operating efficiencies across the business and remain on track to achieve at least the £20 million targeted reduction in the underlying cost base in 2010.

“These management actions will ensure we are well positioned to take full advantage of the revenue and profit benefits that will result when market conditions improve.”