LONDON: Newspaper publisher Trinity Mirror Group was hit by significant falls in advertising revenues in the early part of this year as cuts in UK marketing budgets begin to bite.
The company, which publishes five national titles and 150 regional newspapers, says that underlying revenues in the period to April 27 fell by 2.7%, with ad income down by 4.3% and circulation revenue down 1.2%.
Digital revenues rose by 26.5% on an underlying basis. The company is shifting emphasis away from print to digital media.
Trinity is also cutting costs and said it is on track to achieve the last £7 million ($13.6m; €8.8m) of its £20m savings plan by the end of the year.
Data sourced from Financial Times Online; additional content by WARC staff