Trinity Mirror posts 49 per cent rise in digital revenues
Trinity Mirror, publisher of the Daily Mirror, Sunday Mirror and The People, has shrugged off the ongoing fallout from the phone hacking scandal to post a 49 per cent increase in its digital revenues for the year to 27 April.
This helped mollify a 9 per cent decline in advertising revenue at its print titles, which also stabilised losses in circulation to just minus 1 per cent over the period.
Total group revenue declined by 3 per cent over the period with total advertising income down 8 per cent in January and February and 7 per cent in March and April whilst net debt was cut by £26m to £71m – with a further £10m in cost cuts pencilled in for this year.
In a statement concerning ongoing bribery allegations the firm noted: “The company also continues to challenge civil claims in relation to these matters. The group will not accept wrongdoing and takes all allegations seriously. It is too soon to know how these matters will progress, whether further allegations or claims will be made, and their financial impact."