26 week period ending 3rd July 2005
Trinity Mirror plc is today issuing a trading update for the 26 weeks ending 3rd July 2005 - ahead of entering its close period. The company will announce its interim results on 28th July.
Since our AGM statement on 5th May, the advertising market has remained challenging. Group advertising revenues for the 26 week period are expected to fall by 0.4% year on year.
The Regionals division is expected to achieve advertising revenue growth of 1.4% year on year for the period. Growth in display, other classified categories and particularly in property has been partially offset by declines in recruitment and motors.
Advertising revenues for the Nationals division are expected to fall by 5.3% year on year reflecting a 7.0% decline in the UK National titles and a 0.3% decline in the Scottish National titles. The National newspapers continue to hold volume market share of advertising.
The Sports division is expected to achieve advertising revenue growth of 14.5% year on year and the Magazines and Exhibitions advertising revenues are expected to increase marginally by 0.5%.
Group circulation revenues for the 26 week period are expected to increase by 3.1% year on year. All newspaper divisions are expected to achieve growth in circulation revenues with expected increases of 5.2% for Regional newspapers, 1.9% for National newspapers and 9.6% for Sports newspapers. Magazines and Exhibitions circulation revenues are expected to be 1.1% lower.
In an uncertain economic climate the Board's strategy "Stabilise Revitalise Grow" continues to drive improvements in performance. Whilst we anticipate the advertising market will remain extremely challenging the Board expects a satisfactory outcome for the year.