Daily Mirror owner warns on first-half revenue

British newspaper publisher Trinity Mirror said it expected an 11 per cent fall in first-half revenue as print advertising markets continued to remain challenging.

The company, which owns the Daily Mirror and Sunday Mirror titles, saw an 11 per cent decline in underlying print publishing revenue for the 26 weeks ended June 28th.

Print advertising revenue is expected to fall 19 per cent in the period, said the company, which has been battling lower advertising rates at Daily Mirror and Sunday Mirror.

Trinity Mirror said it was targeting structural cost savings of £20 million for the year, compared with the £10 million it targeted in March.

The increased cost-savings target would add £5 million to restructuring expenses, the company said.

Reuters