Trinity Mirror PLC Trading Update (9288C)
July 01 2016 - 2:00AM
UK Regulatory
TIDMTNI
RNS Number : 9288C
Trinity Mirror PLC
01 July 2016
1 July 2016
Trinity Mirror PLC
Trading Update
Trinity Mirror plc is issuing a trading update for the 27 week
period from 28 December 2015 to 3 July 2016 ahead of its 2016
interim results announcement on 1 August 2016.
Outlook
The Board anticipates that our interim results will be in line
with our expectations with continued strong cash generation over
the period enabling a further fall in net debt.
For the remainder of the year we will remain focused on the
delivery of our strategy. We will continue to invest in digital
growth and take the necessary mitigating actions to support profits
given the increased uncertainty arising from the outcome of the
UK's referendum on EU membership.
Revenue trends*
Group revenue fell by 8% on a like for like** basis over the
period with a 9% decline in the first quarter and a 7% decline in
the second quarter.
Publishing revenue fell by 8%, with print declining by 10% (12%
decline in the first quarter and a 9% decline in the second
quarter) and digital growing by 14% (15% growth in the first
quarter and 14% growth in the second quarter). Publishing print
advertising and circulation revenue fell by 17% and 5% respectively
over the period. In the second quarter print advertising and
circulation revenue fell by 14% and 5% respectively. We continue to
deliver strong growth in digital audience.
Enquiries
Trinity Mirror 020 7293 Brunswick
3553 020 7404 5959
Simon Fox, Chief Executive Mike Smith, Partner
Vijay Vaghela, Group Finance Will Medvei, Director
Director
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.
* Revenue trends reflect the expected performance for the period
as there remains three days of trading (1 July 2016 to 3 July 2016)
at the time of releasing this trading update.
**Like for like assumes Local World was owned from the beginning
of 2015 and excludes revenue from the Independent print and
distribution contract which ceased in April 2016 and compares the
27 weeks to 3 July 2016 with the 27 weeks to 5 July 2015. 2016 will
be a 53 week period and the additional weeks trading is included in
the first half of the year.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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