Advertising revenues at Trinity Mirror dropped by 10 percent in the first four months of the year, according to an interim management statement published today.
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.
In March, Trinity Mirror reported a 17 per cent rise in operating profit for 2010, following the acquisition of GMG Regional Media.
Trinity Mirror’s report follows Johnston Press’ results published earlier this week, which showed a 10.6 per cent drop in advertising revenue across print and digital.