Trinity Mirror suffers as slowdown takes toll

Trinity Mirror Group, which owns the Sunday Business Post, has reported tough trading conditions in the UK market.

In a trading statement, the group said advertising in its national tabloid titles had been holding up relatively well before September 11th but that this had since declined substantially.

In the aftermath of the US terrorist attacks, national advertising in the UK fell by just more than 1 per cent. This was followed by a decline of 10 per cent in October and 21 per cent in November.

Its management has indicated that planned cutbacks in digital media activities and lower newsprint prices next year should help to mitigate the effects of the uncertain economic outlook and unpredictable advertising conditions expected to continue in 2002.

In a report yesterday, Davy Stockbrokers also noted that competition for newspaper advertising could further intensify next year with reports that News International plans to launch a 24-hour free London newspaper to compete with Associated Newspaper's Metro title.

It is reported to intend to distribute 240,000 copies of the new title to consumers each morning, with a further 400,000 copies being circulated in the afternoon and evening.

Davy Stockbrokers acts as brokers to Independent News & Media which is also likely to be affected by the weaker trading conditions in the UK.

It will report full-year results early in 2002.