31 Jul 2015 16:00
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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.
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23 Jul 2015 07:22
BUZZ-Daily Mail: worst day in 6 yrs as warns of weaker ad markets
** Daily Mail bottom of the Stoxx & poised for biggest one-day drop since April 2009 ** Co sees "marked deterioration" in British print advertising market meaning FY to be at lower end of expectations ** Stock down 8.1% at levels not seen since mid March in volume at a fifth of 90-day
Read more23 Jul 2015 07:21
UPDATE 1-Daily Mail lowers guidance as advertising markets worsen
(Adds analyst reaction, shares) LONDON, July 23 (Reuters) - The publisher of the Daily Mail newspaper and website said it had seen a "marked deterioration" in the British print advertising market that would result in full-year results coming in at the lower end of expectations. Total
Read more23 Jul 2015 06:18
Daily Mail lowers guidance as advertising markets deteriorate
LONDON, July 23 (Reuters) - The publisher of the Daily Mail newspaper and website said it had seen a "marked deterioration" in the British print advertising market that would result in full-year results coming in at the lower end of expectations. It said total underlying advertising revenue
Read more15 Jul 2015 15:17
Trinity Mirror executive arrested in UK phone-hacking inquiry
LONDON, July 15 (Reuters) - An executive from Britain's Trinity Mirror newspaper group was arrested on Wednesday in connection with a police investigation into allegations of phone-hacking by journalists on the publisher's papers. London police said detectives from Operation Golding, an inv
Read more26 Jun 2015 11:53
UPDATE 2-Trinity Mirror doubles cost-cut target as print ads continue slump
* Estimates H1 revenue fell 11 pct * Still sees FY profit in line with expectations * H1 print ad rev down 19 pct, circulation rev down 6 pct * Digital publishing revenue up 26 pct * Shares down 3.8 pct (Adds analyst comments, details, updates share movement) June
Read more26 Jun 2015 10:10
26 Jun 2015 09:28
Trinity Mirror slumps on doubling of cost cuts and revenue warning
Trinity Mirror dropped nearly 4% on Friday after the company said it has doubled its targeted structural cost savings for the year to £20m due to a more challenging revenue environment. "This coupled with ongoing cost mitigation actions and continued investment to drive digital audience and revenue
Read more26 Jun 2015 08:26
BUZZ-Trinity Mirror: down on H1 revenue warning
** British newspaper publisher Trinity Mirror down c.5 pct, one of the top percentage losers on the LSE ** Sees an 11 pct drop in H1 revenue as print advertising markets continued to remain challenging ** Cost saving target has been increased to 20 mln stg from 10 mln stg ** Bar
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