Improved advertising trend for Trinity Mirror

Thu Nov 12 2009 15:53:25

The publisher of the Daily Mirror has added to cheer in the media sector by revealing further improvements in the struggling advertising market.

Trinity Mirror shares went up 9 per cent as it said falls in advertising sales had narrowed in the 17 weeks to October 25. They were down by a fifth compared with a 28 per cent plunge in the first half.

Advertising revenue declines in its nationals division, which also includes the Sunday Mirror and The People, are expected to have halved this month to around 5 percent, from 10 per cent in July.

Its regional titles, such as the Birmingham Post and Liverpool Echo, are set for an improvement from a 36.8 per cent tumble in January to around 22 per cent in November.

The news comes a day after regional newspaper group Johnston Press, which publishes the Scotsman and Yorkshire Post, said its ad revenues had stabilised.

However, both firms are continuing to cut costs and Trinity Mirror revealed that another four titles had been axed since the end of June, on top of 22 in the first half of the year and nearly 30 in 2008.

Job losses so far this year total just over 1,000, according to the group.

Trinity Mirror said: "Although trading conditions have remained difficult since the half year with continued pressure on revenues from the poor economic environment we have seen an improvement in the rate of decline in revenues."

It added: "Whilst the trading environment will continue to be challenging over the remainder of the year and into 2010, we anticipate that the rate of decline in revenues will continue to improve."

© Independent Television News Limited 2009. All rights reserved.