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Trinity Mirror profits slump 65% as ad revenue falls
Sly Bailey
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: chief executive of
Trinity Mirror
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In a statement today (12 August), the publishing group behind the
Daily Mirror
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, Sunday Mirror and more than 150 regional daily and weekly newspapers and 500 digital products, admitted the "challenging economic environment", had resulted in trading being "much weaker than previously anticipated".
Pre-tax profit of £28. 9m for the first six months o...
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Summary
Trinity Mirror has posted a 65% drop in pre-tax profits for the first half of 2011, as "difficult trading conditions" were exacerbated by heavy falls in public sector advertising, tax increases, weak retail sales and substantial hikes in the cost of newsprint.
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