The deterioration in newspaper advertising is in line with previous trading updates, but today's announcement ahead of the company's interim results on August 3 reveal that the problems are affecting its entire portfolio of national and regional newspapers, sports media, and magazines and exhibitions.
Total ad revenues across Trinity Mirror are expected to fall by 10.6% on a like-for-like basis and by 8.4% including acquisitions.
Its UK national newspapers, which include the flagship Daily Mirror, are expected to perform worse than its Scottish national titles, such as The Daily Record. The prediction is for a 12.7% decline for the UK titles and a 10.5% decline for the Scottish titles.
A cover price war in Scotland has helped revenue woes spill over into circulation revenues, which are expected to be 1.4% down across all national newspapers.
The regional newspaper portfolio is expected to suffer a 9.7% fall in ad revenues, offset by a 1.4% rise in circulation revenues. Recruitment is again the black spot with a 21% drop, followed by motors with a 12.9% drop and display with a 6.7% drop. The only growth category was property ads, up 1.9%, in line with the a relatively buoyant housing market.
The company was recently reported to have put its magazines and exhibitions division up for sale. Ad revenues there are expected to be down 12.3% and circulation revenues down 1.1%.
The sports division housing The Racing Post, which has experienced new competition from the recently launched daily newspaper The Sportsman, makes most of its money from circulation. The division's ad revenues are expected to be down 16% with circulation revenues down 3.1%.
Trinity Mirror's share price fell in early trading this morning by 1.65% to 477.5p.
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