1st Jul 2016 06:50
LONDON (Alliance News) - Trinity Mirror PLC on Friday said it anticipates interim results will meet its expectations and said strong cash generation in the first half should bring net debt down further.
The newspaper publisher, which owns the Daily Mirror and Sunday Mirror titles, said revenue in the 27 weeks to July 3 was down 8.0% on a like-for-like basis. Revenue declined 9.0% in the first quarter but this eased to 7.0% in the second quarter.
Trinity said publishing revenue was down 8.0% in the first half, with print revenue down 10% and digital revenue rising 14%. Publishing print advertising revenue fell 17% and circulation revenue was down 5.0%.
Trinity will publish interim results on August 1.
By Sam Unsted; [email protected]; @SamUAtAlliance
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