News & Opinion

Trinity Mirror issues latest results

Trinity Mirror has issued its interim management statement for the 17 weeks of trading to 28 April 2013, with the Daily Mirror "continuing to achieve volume trends better than the market".

  • Improving revenue trends, in particular circulation revenues 
  • Good growth in digital audience with unique users up 25% year on year to 31 million and page views up 36% year on year to 163 million 
  • Continued strong cash generation with net debt falling by £25 million to £132 million 
  • On track to deliver targeted structural cost savings of £10 million in 2013 
  • Confidence in the outlook for the Group’s performance in 2013

The report said: "Revenue trends have improved over the 17 week period, despite the trading environment remaining challenging. We continue to expect an improvement in the rate of decline in revenues as we progress through the year as the benefit of our strategic initiatives start to take effect.

"The benefit of our strategic initiatives and our targeted cost savings of £10 million gives the Board confidence in the outlook for the Group's performance in 2013. Whilst the trading environment remains challenging we continue to see an improvement in revenues, with March and April down 7% compared to a decline of 13% in January and February. 

"In particular, we are pleased with the improving circulation revenue trends with the rate of decline falling to 3% in March and April reflecting the benefit of cover price increases and strong circulation volume performance. The Daily Mirror in particular continues to achieve volume trends better than the market."

Speaking at Newsworks' first-ever conference Shift 2013 last month, Trinity Mirror's new CEO Simon Fox (pictured) talked about his first impressions of the newspaper industry; the Mirror's digital numbers and paywalls; and his ideas for the future. Watch his presentation here

Trinity Mirror's current share price is 103.75. Read the full interim management statement here

Source: Trinity Mirror

16/05/13

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