Trading Update

Trinity Mirror PLC
10 January 2001

 
CLOSE PERIOD TRADING UPDATE 
26 week period to 31st December 2000 
 
 
Trinity Mirror, the UK's largest newspaper publisher, is today issuing a
trading update in respect of the 26 week period to 31st December 2000, ahead
of the Group's preliminary results announcement on 15th March. 
 
Overall, revenues for the year to 31st December 2000 were in line with our
expectations with, as anticipated, the performance in the first half of the
year being stronger than the second half. However, the trading environment
improved during the last two months of the year and this has continued into
the first week of January.  
 
In the latter half of 2000, like-for-like* advertising revenues of the
regional newspaper operations grew by 4.2%. Recruitment advertising revenues
remained very strong, with an increase for the 26 week period of 15.8%. The
Group's regional newspapers continued to experience a decline in circulation
during the second half of the year in line with the regional newspaper
market. The Group completed the acquisition of Southnews on 28th November. A
management team for the combined operations of Southnews and Trinity
Newspapers Southern has subsequently been appointed. Good progress is being
made in the integration of the businesses and the realisation of the
anticipated £4 million of cost savings by December 2001. Southnews' trading
performance continued in line with expectations during December and it has
had a good start to 2001. 
 
The Group continued to publish the Metro newspaper in Birmingham and
Newcastle throughout the period and, on 3rd January 2001, expanded its Metro
network to include the publication of the Scottish Metro. The competing free
morning title in Newcastle ceased publication at the end of December.  
 
The national tabloid newspaper market remained highly competitive in terms of
circulation and advertising during the 26 week period to 31st December 2000.
Total advertising revenues of the Group's five national newspapers grew
during the period by 0.6% (against a very strong advertising performance in
the latter half of 1999 and an increase of 5.0% in the first half of 2000).
Circulation revenues during the period decreased by 1.1%. The Mirror, Sunday
Mirror and Sunday People saw small losses in circulation market share during
the latter half of the year. The two Scottish national newspapers, the Daily
Record and Sunday Mail, marginally improved their share of the Scottish
tabloid market.  
 
The Group's sports newspapers, including The Racing Post, continued to see
very strong growth in advertising and circulation revenues during the latter
half of the year. Compared to the same period in 1999 the growth for the
latter half of 2000 was 39% and 19% respectively ( including the benefit of
the acquisition of Raceform in October 1999). 
 
Implementation of the Group's digital media strategy is now progressing well,
with icShowbiz launched towards the end of December and icBirmingham and
icCoventry due to be launched during January. ic24, the Group's ISP, had in
excess of 790,000 subscribers at the end of December with more than 250,000
active within the last 30 days. Group sites recorded over 57 million page
impressions in December. 
 
Revenues in 2001 from Southnews, together with improved Metro and digital
media revenues, will contribute to an increase in the Group's rate of revenue
growth. This growth in revenues, as well as cost control and further cost
saving benefits from the 1999 Trinity Mirror merger, will offset the increase
in the price of newsprint (which will be a significant factor during the
year). The Board is confident of a satisfactory performance in 2001.  
 
* regional newspaper advertising revenues are stated exclusive of the
revenues of The Belfast Telegraph and Southnews and adjusted to eliminate the
53rd week of revenues in 1999 from all former Trinity plc regional operations
(ie all other than the Midlands and Irish businesses). 
 
 
Enquiries: 
 

Trinity Mirror plc                    020 7293 3000     

Philip Graf, Chief Executive 
Margaret Ewing, Group Finance Director 
 

Finsbury                              020 7251 3801

Rupert Younger 
James Leviton