National Newspaper Ad Revenues Strong At Trinity Mirror

Newspaper group Trinity Mirror has turned out a strong trading statement ahead of its second half financial results which are due for release on 15 March. The company said that advertising revenues across its national newspapers were showing a second half annual growth of 9% for the six months to 2 January 2000.

The group’s flagship Mirror newspaper has seen its market share increase over the period, although this is due mainly to circulation declines in rival newspapers than an increase in sales of the Mirror. The Sunday Mirror saw circulations decline by just 0.5%, compared to 11% for the same period last year. Trinity Mirror says that this performance reflects management decisions to refocus the paper’s editorial stance closer to that of its daily sister title.

Trinity Mirror was officially formed on 6 September 1999 by the merger of Trinity and Mirror Group (see Trinity-Mirror Deal Gets ‘Unconditional’ Go-Ahead). The enlarged group says that integration of the two businesses is on track to deliver annual pre-tax cost savings of at least £15 million by the end of 2002. The company is also proceeding with the divestment of its Northern Ireland titles – including the Belfast Telegraph – as is required by the Competition Commission. Reports suggest that the Belfast Telegraph could fetch more than £200 million.

Trinity Mirror has also written to the Office of Fair Trading (OFT) seeking permission to acquire regional newspaper group, Newscom (see Trinity Mirror Confirms Interest In Newscom). The OFT’s investigation should be completed by the end of April.

Trinity Mirror: 020 7293 3000