British newspaper publisher Trinity Mirror, which owns the Sunday Business Post and Britain's Mirror titles, said today that its profits inched higher in 2001 despite 'one of the toughest trading periods in recent history'.
Trinity posted a 0.9% rise to £155.5m sterling in profits before tax and exceptional items.
Turnover rose 4.8% to £1.13bn at the group which has a portfolio of regional titles in addition to its national newspaper interests.
Media groups worldwide saw sharp drops in advertising revenues over the past year as the global economy slowed. The September 11 attacks in the US added to the woes as firms further cut back their marketing spending.
Trinity chairman Victor Blank said that difficult and declining advertising market had continued into January and February, and the company expected 'this remaining so throughout most of the year'.
Full-year advertising revenues at its national newspapers division fell 4.2% to £201m.
