The publishers of the Daily Record and Sunday Mail newspapers have revealed a five per cent drop in its revenue during the first 17 weeks of this year, compared to this time last year.
And in Trinity Mirror’s interim management statement, covering the period January 1 to the second of this month, while advertising revenue, in particular, among its national titles was described as flat (up one per cent in January and February, down one per cent in March and April), the company does say that its UK nationals performed ahead of its Scottish ones.
Trinity Mirror also publishes dozens of Scottish local newspapers, under the Scottish & Universal Newspapers banner, and among its regional titles, UK-wide, advertising revenue was down eight per cent.
Combined, all advertising revenue was down five per cent.
However, factor in the purchase – at the end of March, for a reported £45 million – of GMG Regionals, which includes the Manchester Evening News, and the picture is rosier. Indeed, during the five weeks up to May 6, its GMG Regionals titles are said to have contributed six million pounds to the company’s coffers.
Trinity Mirror’s net debt on May 2 was £333 million, compared to £324 million at the start of the year. The company says it is on course to shave £20 million worth of costs targeted for this year.
Says the company: “…while the board remains cautious about the economic outlook it continues to look forward to a satisfactory performance for 2010”, although trading conditions remained “volatile”.
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