Trinity Mirror reports H1 profit gain
Thursday, 29 July 2004UK newspaper publisher Trinity Mirror said its first half profits increased because of better advertising sales at its regional newspapers and broad cost-cutting efforts.
The company, which owns the Daily Mirror and a group of UK regional newspapers, said it would boost its net cost savings to £35m sterling in 2005, an increase of £5m.
Trinity's pre-tax profit increased by 27% to £101.8m from £80.4 m a year ago. First half revenues increased 5.6% to £573m after the company raised the cover price last year on all three of its UK national newspapers.
The company reported advertising sales gains of 2.7% for its national newspapers and 6% for its regionals.
Despite the competitive environment, Trinity Mirror said it was confident that the business will continue to perform in line with expectations.
