Trinity Mirror PLC
6 July 2000
TRINITY MIRROR PLC
PRE CLOSE PERIOD TRADING UPDATE
26 week period 3rd January to 2nd July 2000
Trinity Mirror is today issuing a trading update in respect of the 26 week
period to 2nd July 2000, being the first half of the financial year ending
31st December 2000. The group's interim results will be announced on 14th
September.
During the first six months of the current financial year all of Trinity
Mirror's operations have performed well. In addition, management has
continued to make good progress in the integration of the merged businesses.
Circulation revenues from the three national titles, for the six months, have
increased by 2.4% in comparison to the same period in 1999. In a very
competitive circulation market, both The Mirror and the Sunday Mirror improved
their circulation market shares. The national titles also achieved
advertising revenue growth of 5.4% overall, with The Mirror and the Sunday
Mirror achieving growth of 6.9% and 6.1% respectively and both titles
increasing their respective market shares. In the face of sustained
competition for circulation, the Scottish national newspapers also grew their
market share and remain Scotland's leading daily and Sunday newspapers in
terms of sales and readership. Advertising revenues increased for the
Scottish national newspapers by 4.8% overall.
The regional newspapers have traded strongly across all regions, with
particularly significant improvements in performance from the Midlands and
Liverpool. Advertising revenues for the regional newspapers have increased by
7.3% for the six-month period, with an 8.0% improvement in classified
advertising, driven by an increase of 21.4% in recruitment advertising.
During the first six months of the year circulation revenues from the regional
newspapers have remained stable. As a result of entering into the franchise
agreement with Associated Newspapers in May 2000, the group's Metro newspapers
will benefit from reduced costs and enhanced national advertising revenues.
The group's sports newspapers have seen very strong growth in advertising
revenues during the six months to 2nd July 2000 and circulation revenue growth
of 5.8%.
The group's new media strategy is progressing satisfactorily. At the end of
June, the group's internet service provider, ic24, had over 455,000
subscribers, of which 383,000 were active. Group sites, including sporting-
life.com, recorded over 53 million page impressions in June. Trinity Mirror
is also continuing to develop, in conjunction with Cap Gemini Ernst & Young,
its technology platform that will seamlessly integrate the central and
regional portals and enable enhanced functionality and profiling of users.
Given a continuation of the current economic environment a satisfactory
outcome for the full year is anticipated.
Enquiries: Philip Graf/Margaret Ewing Rupert Younger/Julius Duncan
Trinity Mirror Finsbury
020 7293 3209/3228 020 7251 3801
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