Trinity Mirror revenues slump a further 9% on back of ‘volatile’ trading
Publishing powerhouse Trinity Mirror has suffered a further nine per cent sip in revenues over the third quarter, extending a 13 per cent decline registered in the second quarter, as publishing and print revenues continued to fall.
Despite enjoying a 24 per cent increase in its digital business Trinity was unable to offset a six per cent decline at its publishing arm and an eight per cent fall at its print operations.
In the online sphere Trinity was buoyed by a 31 per cent uplift in average monthly unique users and a 48 per cent increase page views over the reporting period – with publishing digital revenue 24 per cent to the good and revenues from digital display advertising up 33 per cent.
A further welcome fillip comes with the news that an appeal against civil claims relating to the phone hacking scandal is to be expedited and will be heard over 19 the and 20th of October.
In a statement Trinity said: “Whilst the trading environment remains volatile, revenue trends have seen some improvement in the third quarter.
“We continue to make good progress against our strategic initiatives and the business continues to deliver strong cash flows and remains on track to deliver structural cost savings of £20m for the year.”
Trinity anticipates performance for the remaining quarter to be in line with expectations.