Trinity Mirror PLC
04 May 2006
TRINITY MIRROR plc
AGM Statement
The following statement will be provided to shareholders by the Chairman of
Trinity Mirror plc, Sir Victor Blank, at today's Annual General Meeting:
On a like-for-like basis excluding acquisitions, Group advertising revenue for
the first four months decreased by 11.8%. This represents decreases of 13.9% for
January, 13.0% for February and 10.2% for March and April. March and April have
been combined to eliminate the distortion created by Easter being in March in
2005 and April in 2006. Including acquisitions Group advertising revenue for the
first four months decreased by 9.6%.
For our Regionals division like-for-like advertising revenues decreased by 10.4%
with declines in all categories other than property, particularly recruitment
advertising which fell by 22.6% and motors which fell 12.9%. The Nationals
division advertising revenues fell by 14.1% with a 15.7% decline for the UK
Nationals and a 9.6% decline for our Scottish Nationals.
Group circulation revenues for the first four months were in line with 2005.
Circulation revenues for our Regional titles and UK National titles increased by
2.4% and 0.7% respectively with cover price increases offsetting circulation
volume declines. However, circulation revenues for our Scottish National titles
fell by 4.2% reflecting the impact of vouchering activity for the Daily Record
in response to price cutting by competitors in the Scottish marketplace.
As we indicated at the Group's preliminary results announcement on 2 March 2006
the difficult advertising market conditions experienced in 2005 have continued
into 2006. Whilst comparatives will ease as the year progresses management
continues to run the business on the assumption that the advertising environment
will remain very challenging.
Enquiries:
Trinity Mirror plc
Vijay Vaghela 020 7293 3622
Group Finance Director
Nick Fullagar 020 7293 3622
Director of Corporate Communications
Finsbury
James Leviton 020 7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange
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