The profit performance was due in part to a programme of cost cutting, as turnover increased by just 1.2% from £572.7m to £579.3m.
Trinity's five national papers, which include the Daily Mirror and the Daily Record, saw advertising revenues slump by 5.4% from £99m to £93.7m, in a market that the company called "unpredictable". Conversely, the regional division experienced advertising revenue growth of 1.5% to £214.1m.
Trinity Mirror chief executive Sly Bailey said: "As there remains limited visibility in the advertising marketplace, we are managing the business on the assumption that the advertising conditions experienced in the first half will continue for the remainder of the year."
However, the nationals division managed to grow circulation revenue by 2% to £140.1m, despite declining circulation, by seeing through cover price increases across all five titles. The Daily Mirror's circulation declined by 7.7% year-on-year during the first half of the year.
Trinity stressed that the titles were holding up in terms of market share of circulation and advertising.
It plans to be able to print the national and some regional titles in full colour by early 2008, by investing £83m in new presses.
It is continuing with digital expansion following the acquisition of this month. In August, it will launch , a national website providing news, career advice and job classifieds for public sector workers, as well as a separate general jobs site for the Midlands.
Digital media advertising revenues within the regional division grew from £2m to £3.4m.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .
_1.jpg)
.jpg)
