Trinity Mirror hit by falling ad sales

NEWSPAPER publisher Trinity Mirror has reported a fall in sales and profits over the last half year amid tough advertising conditions and says the immediate future of the market 'remains uncertain'.

Turnover for the six months to 30 June fell 3.6% to £554.8m, partly reflecting a 4% decline in advertising revenues and a 1.3% fall in circulation revenues.

Operating profits fell 4.6% to £95.9m as the revenue fall and investment in editorial and marketing was partially offset by cost savings and lower investment in digital media operations.

Chairman Sir Victor Blank said: 'In the first six months of the year, against a backdrop of difficult economic conditions, we have further demonstrated the strength of our businesses.'

He continued: 'The immediate future of the marketplace remains uncertain. However, we continue the successful implementation of the group's strategy and this underpins the board's expectation of a satisfactory outcome for the year.'