Thursday, February 26, 2009

Trinity Mirror sees advertising revenue slump 30pc

Trinity Mirror, the owner of the Daily Mirror, cut its final dividend as it announced that advertising had fallen by about 30pc in the first two months of the year.

The group, which announced a loss before tax of £73.5m for the full year, down from a pre-tax profit of £21m the previous year, will implement further cost savings measures.

It said advertising revenues at its regional newspaper division had declined 37pc in the first two months of the year, while its nationals had suffered a 16pc drop.

However, circulation revenues in the first two months were been more resilient with declines of just 4pc.


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