Trinity Mirror sees print advertising revenue decline 17%

Trinity Mirror, the UK’s largest regional publisher and owner of national titles including the Daily Mirror, has reported an 8% decline in revenues.

Group revenue fell by 8% on a like for like basis over the first half of the year, with a 9% decline in the first quarter and a 7% decline in the second quarter.

Publishing revenue fell by 8%, with print declining by 10% (12% decline in the first quarter and a 9% decline in the second quarter). However, digital revenues grew by 14%.

Publishing print advertising and circulation revenue fell by 17% and 5%, respectively, over the period. In the second quarter print advertising and circulation revenue fell by 14% and 5%, respectively.

In a trading statement issued on Friday (1 July), Trinity said: “The Board anticipates that our interim results will be in line with our expectations with continued strong cash generation over the period enabling a further fall in net debt.

“For the remainder of the year we will remain focused on the delivery of our strategy. We will continue to invest in digital growth and take the necessary mitigating actions to support profits given the increased uncertainty arising from the outcome of the UK’s referendum on EU membership.”

Last week, Trinity announced around 15 more staff are set to lose their jobs from across The Sunday People, Sunday Mirror and Daily Mirror.