The following statement will be provided to shareholders by the
Chairman of Trinity Mirror plc, Sir Ian Gibson, at today's Annual General
Meeting:
"As we indicated at the Group's preliminary results announcement
on 1 March, although the advertising environment remains challenging and
volatile from month to month, we continue to expect advertising market
conditions to stabilise during the year with the rate of decline slowing. The
Board continues to have confidence that our 2007 performance will be in line
with expectations.
"Group advertising revenue for the first four months fell by
2.4%. Excluding the acquired digital businesses, Group advertising revenues for
the first four months fell by 3.0%.
"For our Regionals division advertising revenues decreased by
2.3%. By category display fell by 1.2%, recruitment fell by 3.0%, motors fell by
11.4%, property increased by 4.1% and other categories fell by 4.3%. Excluding
the acquired digital businesses, the Regionals division advertising revenues for
the first four months fell by 3.3%.
"Advertising revenues for our Nationals division fell by
4.0%.The Scottish Nationals achieved a strong advertising revenue performance
with growth of 0.9% with the UK Nationals advertising revenues falling by
5.8%.
"For the Sports division advertising revenues increased by 17.7%
reflecting significantly weaker comparatives partially due to a competitive
launch which has since ceased publication.
"Digital revenues for our Regionals division, including organic
and acquired businesses, achieved strong underlying growth of 24.8%. Our
Nationals division also achieved strong growth of 30.7% for the period.
"Group circulation revenues for the first four months fell by
0.5%. Circulation revenues for our Scottish Nationals and our Sports division
increased by 0.3%, and for the Regionals and UK Nationals they fell by 0.8% and
0.7% respectively.
"We continue to make encouraging progress on the disposal of our
Regional businesses in the Midlands and London and the South East, and the
Sports division and expect to complete these transactions as planned during the
second and third quarters."
