The price rise came as Trinity Mirror reported its 2003 results, which showed advertising revenues at its national newspapers was down by 2.1% in 2003 but with improvement evident in the first two months of 2004.
The price of the Daily Mirror will increase from Monday March 1. The 3p jump will make the Daily Mirror 5p more expensive than its rival The Sun, which could now exploit the price differential or push through an increase of its own.
In the most recent ABCs the Daily Mirror was up 1% to 1,919,125 and The Sun was up 4% to 3,410,701.
The price increase will coincide with the launch of a new female-targeted celebrity magazine called 3am, based on its gossip column of the same name. The launch of the title, following the closure of women's magazine M last year, sees the paper chase the lucrative celebrity consumer market.
Trinity Mirror reported pre-tax profits after exceptional items up 13.3% to £172.5m in the last 12 months and achieved cost savings of £5m from the chief executive's review, which highlighted the potential for improving performance and creating shareholder value by running Trinity Mirror more effectively.
Trinity Mirror chief executive Sly Bailey commented: "The changes made during this year have delivered a performance ahead of expectations. 2003 represents the best year-on-year profit improvement for the group since the merger in 1999 and sets the benchmark for further value-creating performance for enhancing shareholder value."
She added: "While there is still much work to be done, we are now significantly progressed on the first phase of our three-phase transformation programme 'Stabilise Revitalise Grow' and the team is focused on continuing the pace of change which has been apparent in 2003."
The group said that the improving trend in advertising seen in the final quarter of 2003 has continued into the first two months of 2004 and it is anticipating continued improvement in performance during 2004.
The national newspapers were hit by the volatile advertising conditions with the UK and Scottish nationals down by 1.5% and 3.8% respectively. The three UK titles' flat advertising revenues for the first half were offset by declines of 3.1% in the second half.
Trinity Mirror's regional newspaper businesses achieved strong advertising performance and a 4.9% growth in operating profits. Advertising revenue for the regionals was up by 2.4% from £394.5m to £404m.
The improved performance was driven by advertising revenue growth of 1.5% for the regional newspaper titles excluding Metros, 15.6% growth for Metros, and digital advertising revenues of £2.4m.
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