Trinity Mirror sees ad revenues stabilise

NEWSPAPER group Trinity Mirror said it expected an improving advertising revenue trend to continue into 2010 as declines slowed to single-digit rates in January and February after a severe downturn in 2009.

By The Newsroom

Published 4th Mar 2010, 08:41 BST

Trinity Mirror, which like its peers has been hit by rising unemployment, a fragile housing market and falling car sales that have squeezed ad spending in those categories, said 2009 sales fell 14 per cent and operating profit fell 30 per cent.

Advertising, the most volatile component of group revenue and just under half of group sales, fell 17 per cent in the second half after a drop of 28 per cent in the first. They slipped one per cent in January and five per cent in February 2010.

"During 2010, we will maintain a focus on costs whilst reaping the benefits of an improvement in the rate of decline in advertising revenues," Chief executive Sly Bailey said in a statement.

Trinity Mirror, whose top title is the Mirror daily tabloid and which also owns a clutch of regional papers and printing presses, reported 2009 revenue of 753.4m, excluding the impact of an extra week in the year.

Operating profit was 101.2m on that basis.