15th May 2014 10:34
LONDON (Alliance News) - Trinity Mirror PLC Thursday expressed confidence in meeting full-year expectations for 2014, as it saw revenue decline in the 17 weeks to April 27.
Revenue fell 3% during the period, although revenue trends improved over the March and April period, the company said.
Digital publishing revenues rose 49% during the period, Trinity Mirror said, and its digital audience continues to grow as unique user numbers rose 100% to 60 million.
Circulation revenues declined 1% during the period, as higher prices offset volume declines.
Advertising revenues declined 7%, as a 9% decline in print advertising, and a 41% decline in specialist digital advertising was offset by a 47% increase in digital advertising.
Printing revenue rose 3%, boosted by higher newspaper prices and strong contracts. Other revenue grew 3%, boosted by contract publishing for football clubs.
The company said it was on track to deliver cost savings of GBP10 million in 2014.
Trinity said it was continuing to co-operate with police on investigations into alleged inappropriate payments to public officials and phone hacking, but said it was too soon to know the financial impact of these investigations.
Shares in Trinity Mirror were trading up 0.4% at 171 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Trinity Mirror PLC