Revenues at newspaper publisher Trinity Mirror fell by 9pc in the first four months of the year despite a surge in digital revenues at its newly acquired national titles.
A trading update covering the period from 1 January to 30 April showed that digital revenues at the Express & Star, bought by TM at the end of February, were up 40pc.
Like for like publishing revenue, excluding the new acquisitions, was down 9pc in the period, with print revenues down 11pc and digital up 2pc.
Print advertising revenue was down 17pc and print circulation revenue down 7pc, the latter being impacted by severe weather conditions during March.
Separate figures for the Express and Star saw overall revenues down 5pc with print down 8pc and digital growing by 40pc.
The update was issued ahead of the group’s AGM later today at which it is scheduled to change its name to Reach plc.
Chief executive Simon Fox, pictured, said: “I am pleased with the actions we have taken to protect print profitability whilst continuing to build our digital revenue.
“Our tight management of the business, the completion of the acquisition of the UK publishing assets of Express and Star, and appropriate investment in building our digital business make me confident that 2018 will be another year of progress.”
Earlier this week culture and media secretary Matt Hancock announced that the Express and Star acquisition would be referred to the Competition and Markets Authority and Ofcom on public interest grounds.
TM said today that it “remains confident that the acquisition does not present any competition or media plurality issues.”