Trinity Mirror publishing revenue set to fall -10%

Chief executive Simon Fox

Following a “volatile” trading period, Trinity Mirror Group has issued a statement ahead of its upcoming financial results forecasting publishing revenue to be down -10% year-on-year, while group revenue is expected to fall by -9%.

Print is forecast to decline by -12% – only partially offset by digital which grew by 5% – while publishing print advertising and circulation revenue are expected to drop -21% and -6%, respectively.

Digital display and transactional revenue, however, is expected to grow by 18%.

Trinity said that while progress has been made on the settlement of civil claims in relation to phone hacking scandal, the lengthy process and legal fees for the claimants has required costs to be increased by £7.5 million.

Chief executive Simon Fox said: “The trading environment for print in the first half remained volatile but we remain on course to meet our expectations for the year.

“I anticipate that the second half will show improving revenue momentum as we benefit from initiatives implemented during the first half of the year.”