Trinity Mirror PLC
4 May 2000
Trinity Mirror plc
AGM Statement
At today's Annual General Meeting, Sir Victor Blank, Chairman
of Trinity Mirror plc, provided a summary of current trading
and group operations. The following statement is today released
to the London Stock Exchange.
'These are exciting times for Trinity Mirror. As we look back
over the year that saw your company become the largest newspaper
publishing group in the UK, it is clear that its creation has
produced a host of opportunities.
As we stated on 17th March, we have had a good start to the
year and the Group's operations have performed strongly
during the first four months of 2000.
Advertising
During the first four months, advertising revenues for The
Mirror and Sunday Mirror have grown by 5% year on year, with
both titles producing the largest volume growth in their
respective popular markets. This excellent performance
further confirms the progress being made in the development
of the Group's national daily title and the repositioning of
the Sunday Mirror alongside that of its sister daily. The
Racing Post has achieved double digit growth in its
advertising revenues. This has been driven primarily by the
growth in Internet betting.
The regional newspapers' advertising revenues increased by
8%, with all regions recording growth. Classified
advertising revenues have grown by 10%, led by a continued
strong recruitment advertising performance which was 21%
ahead of last year.
Circulation
Per the latest ABC figures, the Mirror and Sunday Mirror
have both continued to gain market share, outperforming
their direct competitors during the six months to March
2000. Despite a 10p increase in cover price over the same
period in 1999, the Sunday People's trend of circulation
performance has improved.
Circulation revenues of the regional newspapers have
been robust during the first 4 months of the year.
New Media
One of the most exciting value creating projects underway at
the Group is our new media strategy. Our objective is to
build ic24 into one of the UK's leading portal brands and to
be the first fully integrated national and local portal.
The goals for the next twelve months are to have 1m access
customers, over 100m page impressions a month and to achieve
annual revenue of £7m in 2000. We are pleased to report that
we are on plan to achieve all of these goals.
A major new marketing campaign commenced at the beginning of
April aimed at recruiting access customers. The campaign is a mix
of direct marketing, posters and TV media, and has so far
attracted over 95,000 new net registrations, increasing our
number of active customers by 44% from 215,000 at the
beginning of March to just over 310,000 by the end of April
2000.
The development of both our central and regional ic network
of sites is key to achieving all our goals. Further
development of content is on plan, with the first phase of
the central portal, ic entertainment, due for launch at the
end of May, and the next two phases in June and July. The first
ic regional site, icscotland, was launched in a beta phase of
development in April. The rest of the regional sites are
scheduled for roll out between June and September 2000.
Monthly page impressions for all our sites aggregate to in
excess of 48m in April, having increased from 38m in
December.
We strongly believe that our leading market position sets us
in good stead to capitalise on the opportunities before us.'
Enquiries: Philip Graf/Margaret Ewing
Trinity Mirror
020 7293 3000
Rupert Younger
Finsbury
020 7251 3801
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