UK newspaper publisher Trinity Mirror forecast a big fall in first-half advertising revenues today and said it expected the market to remain weak.
The publisher of the Daily Mirror tabloid said it expected like-for-like advertising revenues, excluding acquisitions, to fall 10.6% in the 26 weeks to July 2.
Though a slight improvement on the 11.8% decline reported for the first four months of its financial year, Trinity Mirror said it saw little sign of recovery.
'The advertising environment remains weak and management continue to run the business on the assumption that this will continue for the remainder of the year,' it said in a trading statement ahead of first-half results on August 3.
Britain's publishers are struggling amid growing competition from the Internet and as companies cut back on marketing spending in an uncertain economic environment.
Including acquisitions, Trinity Mirror said first-half advertising revenues were likely to have fallen 8.4%. The decline was led by a 12.1% fall at its national titles, with its regional division down 9.7%.
With the exception of property advertising, which rose 1.9%, all advertising categories at the regional business posted a fall in like-for-like revenues, with a 21% drop in recruitment leading the way.
