Mixed results posted by Trinity Mirror group

There was mixed news today from Trinity Mirror plc as the newspaper group reported that advertising revenues had dipped by 1.4% in the last two months.

At today's Annual General Meeting the Chairman of Trinity Mirror plc, Sir Victor Blank said that while the group's advertising revenues had risen by 2.3% in the first four months of the reporting period, this had been offset by a decline in revenue in the last two months.

Group advertising revenue for the first four months increased by 2.3%. This represents an increase of 6.5% for January and February, partially offset by a decline of 1.4% for March and April.

Trinity Mirror's 'Regionals' division advertising revenue increased by 4%, but growth had been affected by a 2.7% decline in recruitment advertising and a 0.8% fall in motors. For the group's 'Nationals' division, advertising revenues fell by 2.4% with a 3.9% decline for the UK nationals, though this was partially offset by an increase of 2% for the Scottish nationals.

Sir Victor said: "In a difficult marketplace our National titles continue to maintain advertising volume market share."

He said that group circulation revenues for the first four months increased by 3.1% - circulation revenues for regional titles and national titles increasing by 4.8% and 1.6% respectively.

He added that it was too early to determine the implications of recent trends in advertising revenues partly due to the timing of Easter relative to 2004 and uncertainties created by the General Election.

"The Board continues to have confidence in its performance-based strategy and anticipates a satisfactory outcome for the year," he said.

(SP/KMcA)