skip to content

Trading statements

Trinity Mirror up despite New Day closure

05 May 2016 11:28

Trinity Mirror (TNI) has closed its daily newspaper The New Day nine weeks after it was launched after selling only 40,000 copies a day.

The company aimed to sell 200,000 copies a day, but failed to generate enough readers, and the last edition will now be published on 6 May.

Despite the closure of New Day and underwhelming results, Trinity Mirror shares were up 7% to 121p.

Group revenue slumped on a like for like basis from 28 December 2015 to 1 May 2016 by 8.6% with a 9.3% decline for the first quarter, reflecting a slowing decline of 6.4% in April.

Publishing revenue fell by 8.5% with print declining 10.9%, while advertising revenues for publications sunk by nearly a fifth and circulation revenue fell by 4.5%.

However, average monthly page views, excluding galleries, across the publishing sites grew by 22% to 755 million on a like for like basis.

Net debt was down by GBP29m from GBP93m to GBP64m.

At 11:28am: (LON:TNI) Trinity Mirror PLC share price was +7.88p at 120.88p

Story provided by StockMarketWire.com

Related Company: TNI

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

aew-banner-180x255.jpg -

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.