Trinity Mirror offsets print decline with soaring digital revenues

Trinity Mirror has reported an 8% decline in publishing revenue; however, digital revenues have soared.

Digital revenues grew by 29% in the first four months of 2015, while print revenue declined 10%.

Average monthly unique users and page views have grown 55% and 51%, respectively, while underlying print advertising revenue has decreased by 14% – mirroring the publisher’s last financial results for the end of 2014.

The group’s underlying revenue fell by 8% overall.

“Publishing print revenue trends have been adversely impacted by the absence of a cover price increase for the Daily Mirror Monday to Friday edition, which has contributed to circulation revenue falling by 6%,” Trinity Mirror said.

“Print advertising markets have remained challenging.”

However, the business continues to deliver strong cash flows and had a net cash position of £20 million at the end of April, compared to net debt of £19 million at the 2014 year end.

The £39 million net cash inflow during the period includes the benefit of dividends from Trinity Mirror’s associated undertakings, with £12 million from Local World and £4 million from Press Association.