Trinity Mirror posts marginal growth in trading update

LONDON - Daily Mirror publisher Trinity Mirror has recorded marginal growth in its group advertising results for the 10 months to the end of October, which it said would bring its 2007 performance in line with expectations.

The publisher, which last month completed the sale of Racing Post to FL Partners for £170m, said underlying group advertising revenues for the 10 months ending October 31 had grown marginally year on year by 0.1%.

Trinity Mirror said ad revenues across its regional titles was "flat" for the first 10 months of the year, falling 1%. The national division, which incorporates the Sunday Mirror and The People, increased by 0.9% for the same period.

Meanwhile, group circulation revenues, excluding disposed businesses, increased by 0.8% for the period; while circulation revenues increased 0.6% across regional and 0.9% across national titles.

The Daily Mirror dropped 3.74% month on month in the latest ABC circulation figures for October, and is now close to going below the 1.5m circulation level. Its six-month average was down 4.56% to 1,563,023.

The national daily's sister title the Sunday Mirror fell 4.05% to 1.393,184 copies for the period. However, its six month average figures only dropped 1.68% to 1,415,957 copies.

In a statement, Trinity Mirror said: "The development of our strategic goal, to build a growing multi-platform media business, is progressing via the launch of new products and services, acquisitions and the implementation of improved technology platforms."

Earlier this month, Trinity Mirror unveiled plans to merge its Welsh titles, which include the South Wales Echo, Western Mail and icWales, to form a 24-hour, Cardiff-based multimedia operation that would result in around 17 job losses for the division.

The group said it would be announcing its next pre-close trading update on December 13.

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