31 Jul 2015 16:00
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Don't have an account? Click here to register.Trinity Mirror H1 profit jumps on Local World acquisition
Mon, 01st Aug 2016 10:17
(ShareCast News) - Daily Mirror publisher Trinity Mirror reported a jump in first-half pre-tax profit on Monday, thanks in part to its acquisition of news publisher Local World last November.In the 27 weeks ended 3 July, adjusted pre-tax profit rose to £66.9m from £47m as revenue increased to £374.7m from £288.5m, benefiting from the Local World acquisition and an additional week of trading in the period.This made up for losses from the launch of failed daily newspaper New Day, which closed on 6 May.Chief executive Simon Fox said: "I am pleased we delivered another strong performance despite the challenging print environment. We are already seeing the benefits from our acquisition of Local World last year and continue to tightly manage the cost base across the group.""Our strategic focus remains to grow digital audience and revenue whilst protecting print revenue and profit. We are confident that our strategy and our strong balance sheet position will enable continued progress despite increased uncertainty around the economic environment."Also on Monday, the company announced a share buyback of up to £10m.As far as Brexit is concerned, Trinity Mirror said it has created "increased macroeconomic uncertainty" and warned that revenues could take a hit."Whilst the impact is uncertain and hard to assess, based on current UK growth forecasts there is a risk that our revenues could be lower than expectations."At 1030 BST, Trinity shares were up 6.2% to 79.67p.
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31 Jul 2015 15:25
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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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