The following statement was provided to shareholders by the
Chairman of Trinity Mirror plc, Sir Victor Blank, at today's Annual General
Meeting:
"At the Group's preliminary results announcement on 26th
February 2004, we stated that the improving trend in advertising seen in the
final quarter of 2003 had continued into the first two months of 2004. We are
pleased to report that this improvement has continued to date.
"Group advertising revenue for the first four months, on a like
for like basis excluding the regional titles in Ireland which were disposed in
January, increased by 4.9% year on year with advertising revenues for our
Regionals division increasing by 5.8% and for our Nationals division by 2.7%.
Advertising conditions for our Regional titles in London and the South East have
shown an encouraging trend with year on year increases of 3.1% for the first
four months of the year.
"Group circulation revenues for the first four months, on a like
for like basis excluding the regional titles in Ireland which were disposed in
January, increased by 7.7% year on year with circulation revenues for our
Regional titles increasing by 3.7% and our National titles by 8.6%. These
increased revenues reflect the benefit of cover price increases and the
cessation of the price cutting strategy for the Daily Mirror on 31st March 2003
partially offset by reduced circulation volumes.
"Our performance improving strategy is progressing well and is
reflected in the revenue improvements we have seen during the year so far. On
19th April we further strengthened the senior management team with the
appointment of Rupert Middleton as Director of Manufacturing. We have continued
to make progress on our key Manufacturing and Supply Chain projects and we will
be in a position to provide you with a further update on these at our Interim
results announcement on 29th July.
"The directors are confident of another year of progress."
