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Trading statements

Trinity Mirror anticipates interim results will meet expectations

01 July 2016 08:44

Trinity Mirror (TNI) said it anticipates that interim results will be in line with expectations with continued strong cash generation over the period enabling a further fall in net debt.

For the remainder of the year, we will remain focused on the delivery of our strategy.

We will continue to invest in digital growth and take the necessary mitigating actions to support profits given the increased uncertainty arising from the outcome of the UK's referendum on EU membership.

Group revenue fell by 8% on a like-for-like basis over the period with a 9% decline in the first quarter and a 7% decline in the second quarter.

Publishing revenue fell by 8%, with print declining by 10% (12% decline in the first quarter and a 9% decline in the second quarter) and digital growing by 14% (15% growth in the first quarter and 14% growth in the second quarter).

Publishing print advertising and circulation revenue fell by 17% and 5% respectively over the period.

In the second quarter print advertising and circulation revenue fell by 14% and 5% respectively. We continue to deliver strong growth in digital audience.

At 8:44am: (LON:TNI) Trinity Mirror PLC share price was +4.63p at 92.13p

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