Newspaper publisher Trinity Mirror has revealed its overall revenues fell by 16pc in the first four months of the year amid “challenging” trading conditions.
In a trading update issued ahead of the company’s annual general meeting later today, the group said print advertising revenues were down by 19pc over the period January to
April while circulation revenues dropped 6pc.
Publishing revenues were down 9pc on the same period last year, while print revenues down 12pc and digital revenues up 6pc.
The group said the trading environment had “remained challenging for print advertising during the period,” but that performance for the year as a whole would be “in line with market expectations.”
Chief executive Simon Fox commented: “Whilst the trading environment for print remains challenging we continue to make progress on our strategic objectives of Grow, Build and Protect.
“I am particularly pleased that we continue to see good growth in digital display and transactional revenue and tightly manage costs which gives confidence in our performance for the year.”
Trinity Mirror is the UK’s largest regional publisher with a host of big-city titles including the Manchester Evening News, Liverpool Echo and Birmingham Mail.
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It’s the old trick of using percentages instead of actual cash.
Is anyone clever enough to work out what a 6% increase in digital advertising is in hard cash?
And what 19% of print revenues is in £?
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No Regional, but 6% increase on very little is also very little whilst dropping a further 19% of an already poor ad revenue figure will be substantially more of a worry than the drop in the ocean a digital increase of 6 % adds to the profit age loss accounts.
But never fear! They have a retro directory site of other people’s facts and figures with a ‘search by postcode ‘ function just dusted off and relaunched plus they know the weather more accurately than anyone else apparently so it’s not all shocking news for the shareholders to have to take in.
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So much for the “synergy savings” they’ve been crowing about and as covered on HTFP in February, by the looks of these latests huge car crash ad revenue losses it would appear the ‘synergy savings” have been taken in all the wrong places,’sales’reps, to my way of thinking, who aren’t selling aren’t sales reps are they yet the ad teams continue to grow unchecked
19% lost revenue in 2017 alone is a huge loss,a trend which if it continues at that level to year end,will be of crsis proportions and by then far too late to recover
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Trinity mirror in shock announcement. Shutting down up to a million papers to concentrate on digital in these areas leads to print revenue shrinkage. All while increasing digital by a minute amount in comparative monetary terms.
Who’d have thought
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