Print revenue down 10% at Trinity Mirror

BIRMINGHAM Post & Mail and Coventry Telegraph owner Trinity Mirror has seen its revenue fall during the first four months of the year.

In a trading update ahead of today’s AGM, the publishing group said it expects performance for the year to be in line with expectations but said revenue trends have been similar to those experienced at the end of 2014.

“Reported revenue fell by 10% year on year with underlying revenue falling by 8%,” it said.

“On an underlying basis publishing revenue fell by 8%, with print declining by 10% and digital growing by 29%.”

Trinity Mirror said it continues to deliver strong digital growth with average monthly unique users and page views growing by 55% and 51% respectively but no details have been provided about the number of users.

The group said publishing print revenue trends have been adversely impacted by the absence of a cover price increase for the Daily Mirror Monday to Friday edition.
 
“The business continues to deliver strong cash flows and had a net cash position of £20m at the end of April as compared to net debt of £19m at the 2014 year end,” it said.

“The £39m net cash inflow during the period includes the benefit of dividends from our associated undertakings, £12m from Local World and £4m from Press Association.”

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