British publisher Trinity Mirror , owner of the Daily Mirror tabloid, said that its first-half profit rose 13%, but added that the advertising market remained difficult. Profit before net non-recurring items and tax was £112.5m sterling in the six months to July 3, up 13.1% from a year earlier.
London-based Trinity Mirror, which also owns a group of regional newspapers including the Birmingham Post, said ad revenue growth in the six months rose just 1.2% due to a challenging advertising environment.
'The advertising market has remained difficult since March and reflects the general slowdown in the UK economy since the beginning of the year,' the company said in a statement.
The company also spent £32.5m on a share-buyback programme during the period and was on track to achieve a £250m return of capital to shareholders over three years.
