Trinity Mirror PLC Trading Update (1468B)
October 05 2015 - 02:00AM
UK Regulatory
TIDMTNI
RNS Number : 1468B
Trinity Mirror PLC
05 October 2015
5 October 2015
Trinity Mirror plc
Trading Update
The Board continues to expect performance for the year to be in
line with expectations.
Whilst the trading environment remains volatile, revenue trends
have seen some improvement in the third quarter (13 weeks to 27
September 2015) with revenue falling by 9% against a 13% decline in
the second quarter (13 weeks to 28 June 2015). Underlying revenue*
fell by 7% in the third quarter compared to the 10% decline in the
second quarter. On an underlying basis Publishing revenue fell by
6% with print declining by 8% and digital growing by 24%.
We continue to deliver strong growth in our digital audience**
with average monthly unique users and page views growing by 31% and
48% respectively in the third quarter. Publishing digital revenue
grew by 24% with Publishing digital display advertising revenue
growing by 33%.
We have seen an improvement in trends with underlying
circulation and print advertising revenue for the Publishing
division falling by 5% and 16% respectively in the third quarter.
This compares to underlying declines in circulation and print
advertising revenues of 5% and 23% respectively in the second
quarter.
We continue to make good progress against our strategic
initiatives and the business continues to deliver strong cash flows
and remains on track to deliver structural cost savings of GBP20
million for the year.
On 10 August 2015, our subsidiary MGN Limited was granted
permission to appeal the judgment handed down on 21 May 2015 by Mr
Justice Mann in relation to civil claims relating to phone hacking.
We can now confirm that the appeal, which has been expedited, will
be heard over two days during the week commencing 19 October 2015.
At this stage we cannot be specific on the timing of the outcome of
the appeal.
Enquiries
Trinity Mirror
Simon Fox, Chief Executive 020 7293 3553
Vijay Vaghela, Group Finance Director 020 7293 3553
Brunswick
Mike Smith, Partner 020 7404 5959
Jon Drage, Director 020 7404 5959
The statement on future performance is given as at the date of
this announcement and is subject to a number of risks and
uncertainties and actual results and events could differ materially
from those currently being anticipated as reflected in the
statement. The Company undertakes no obligation to update this
forward-looking statement.
*Underlying trends exclude revenues for titles closures in the
South and the newsprint supply to the Independent and i which
ceased at the end of 2014. In 2014 the revenue generated by the
titles closed in the South was GBP4.5 million and from newsprint
supply to the Independent and i was GBP11.1 million.
**Average monthly unique users and page views for the Publishing
division across web, mobile and apps for July to September 2015
versus July to September 2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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