Overall revenues decreased by six per cent year-on-year, excluding the revenues from GMG Regional Media, acquired by Trinity Mirror last year. Within its regional division Trinity Mirror’s digital revenues grew on an adjusted basis by three per cent, while national digital revenues fell by nine per cent, which the company put down to continued declines in Bingo revenue.
The trading environment remains challenging due to the fragile economic environment and the adverse effect of public sector spending cuts and tax increases. These factors continue to adversely impact the key drivers of our business, such as consumer confidence, unemployment and the property market and are contributing to revenue declines.
The publisher of the Daily Sport and Sunday Sport, Sport Media Group, has suspended trading on the stockmarket according to a report by the Media Guardian today.
The decision follows a “deterioration in trading”, the report adds.
SMG, which in 2009 was saved from going out of business by former proprietor and West Ham co-owner David Sullivan, said that the business has experienced an “insufficient recovery” since the poor weather in December with “consequential pressure on the company’s working capital position”.
According to the figures Fry earned a basic salary of £525,000 in 2010, the same as the previous year, which was then boosted further by benefits and performance related bonus. This led to a total of £1,001,000, an increase on 2009 when Fry received a total of £969,000.
The salary details of other directors were also detailed in the report, with chief financial officer Stuart Paterson, who resigned last year, receiving a total of £520,000 and Danny Cammiade, chief operating officer, receiving an increased total of £618,000.
The report outlines the publisher’s financial performance in 2010, with key statistics including a decrease in total revenues of 7.1 per cent to £398.1 million, a drop in circulation revenues of 2.8 per cent to £96.7 million and an increase in digital revenues of 4 per cent.
According to the published reports, circulation revenues at the group’s Associated Newspapers titles, which includes the Daily Mail, the Mail on Sunday and Metro, fell by an underlying two per cent while underlying advertising revenues were up seven per cent, said to have been driven by a “strong performance” from Metro.
Both the Daily Mail and Metro recorded their highest ever operating profit, the report adds.
DMGT’s regional arm Northcliffe recorded several declines, with underlying revenues down £16 million (six per cent), reported revenues have dropped by 8 per cent and advertising revenues were also down by 7 per cent.
Northcliffe: facing another tough year; UK advertising revenue in the first seven weeks down 7 per cent on last year, continuing year‐on‐year trend experienced in September (like‐for‐like decline of 8 per cent). Outlook for first quarter not expected to improve on this trend; will also be affected by higher newsprint costs; focus remains on reducing costs and new revenue opportunities.
Note: Underlying revenues are those adjusted for acquisitions and disposals made in the current and prior year.