LONDON: Trinity Mirror Group on Friday reported revenues and profits down for the full year to September 30 – the latter slipped marginally from £192 million to £191m ($379.69m; €250.26m) and the former by 6%, from £1.073 billion to £1.01bn.
Ceo Sylvia "Sly" Bailey (pictured) was unwilling to foretell the overall state of the ad market in the current year, saying only that – having sold a number of marginal assets last year – TM is in better shape to ride the economic rapids that lie ahead.
"We have a stronger, more streamlined business now and we have exceeded our cost savings target of £10m by saving more than £13m," she said.
Nonetheless, ad revenues across the company slipped by some 3% in the first two months of 2008 and the publisher expects volatility to continue.
Data sourced from Financial Times; additional content by WARC staff