14 Sep 2015 10:27
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Trinity Mirror PLC Information
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Don't have an account? Click here to register.Trinity Mirror expects drop in fourth quarter revenue
Fri, 16th Dec 2016 10:17
(ShareCast News) - Trinity Mirror expects group revenue to fall in the fourth quarter, reflecting a slump in print advertising sales.In a pre-close trading update, the owner of British newspapers the Daily Mirror and the Sunday Mirror said it anticipates group revenue will drop by below 8% in the fourth quarter compared to a 9% fall in the third quarter.Publishing revenue is forecast to dip 8% in the last three months of the fiscal year as a 10% slide in print offsets an 8% increase in digital.Print advertising revenue is expected to slide by 17% while circulation revenue is estimated to dip 5%.Nevertheless the company said it is confident that performance for the year will be marginally ahead of expectations, with net debt falling to about £35m by year end."We continue to make good progress against our strategic initiatives whilst supporting profits and delivering strong cash flows," Trinity said in a statement.Meanwhile, the group has now settled 80% of claims in its phone hacking scandal. However, it has increased the provision set aside to cover damages by £11.5m.Shares rose 3.27% to 86.75p at 1010 GMT.
More News
13 Sep 2015 16:38
Sunday newspaper round-up: RBS spin-off, Trinity Mirror acquisition, PR Newswire sale
(ShareCast News) - Royal Bank of Scotland will begin marketing the initial public offer of its Williams & Glyn spin-off later this year ahead of a flotation expected in the second half of 2016. The Sunday Telegraph reported that, with Bank of America Merrill Lynch advising the lender on the process,
Read more11 Aug 2015 14:29
BUZZ-UK publishers: paper thin trading speaks volumes
** Choppy trading continues in UK publishing stocks on Tuesday even after H1 results from Johnston Press show signs of improvement & Trinity Mirror wins permission to appeal recent phone-hacking judgment ** Volumes thin in general due to holidays though just the one trade late afternoon for
Read more3 Aug 2015 11:34
Phone hacking, ad revenue slump hit Trinity Mirror first half profits
(ShareCast News) - Pre-tax profits at newspaper publisher Trinity Mirror plunged to £12.1m from £50m in the first half of 2015 on the back of falling advertising revenues and payouts to victims of phone hacking. Revenues were down to £288.5m from £324m, while operating profits fell to £19.6m from
Read more3 Aug 2015 08:29
UPDATE 1-Trinity shares jump as cost cuts, digital sales reassure
(Adds context, details, quote) LONDON, Aug 3 (Reuters) - Shares in Trinity Mirror jumped on Monday after heavy cost cuts enabled the British newspaper publisher to overcome the continued fall in print advertising and pay an interim dividend for the first time since 2008. The home to
Read more3 Aug 2015 07:24
BUZZ-Trinity Mirror: recovers some poise as repeats FY guidance
** Publisher Trinity Mirror bounces clear of near 2-yr lows hit last week as reiterates it expects to reach its FY profit forecasts ** Cost cuts & growth in digital income soften impact from continued fall in newspaper print advertising sales ** July revenue trends better than those e
Read more3 Aug 2015 06:20
Trinity reiterates 2015 profit target despite print ad slump
LONDON, Aug 3 (Reuters) - British publisher Trinity Mirror said it expected to hit its profit forecasts for 2015 after cost cuts and growth in digital income softened the impact from the continued fall in newspaper print advertising sales. The home to the Daily Mirror newspaper said that w
Read more3 Aug 2015 05:19