Trinity revenues down 4% since Jan

NEWSPAPER group Trinity Mirror has said it expects to see continued volatility in its revenues for the rest of the year.

The interim statement covering the 17 weeks of trading to 29 April 2012 showed total revenues were down 4% for the period, largely due to an 11% fall in advertising revenue.

Trinity added that early indications for May means it expects to see an overall decline of 5%, with advertising revenues falling by 10%, circulation revenues falling by 4% and other revenues increasing by 10%. Digital revenues are expected to increase ahead of the growth achieved in the period, it added.

The group said the trading environment will remain challenging for the remainder of the year but added that  the benefit of focused management of the business coupled with delivery of at least £15m of structural cost savings will support profitability during 2012.

The statement added: “We remain on track with the transformation of our publishing capabilities to support the development of a multi-platform media business to be completed by the end of 2013. We are also making good progress with the digital investments announced at our preliminary results.”

The group said its newly launched daily deals brand happli, is “progressing well” and it is now live in eight cities, with plans to launch in a number of other cities by the end of 2012.