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Trinity Mirror sees HY, FY results in line with its expectations
June 30, 2017 / 6:48 AM / 5 months ago

Trinity Mirror sees HY, FY results in line with its expectations

(Reuters) - British newspaper group Trinity Mirror Plc (TNI.L) said on Friday it expected half-year and full-year adjusted results in line with its expectations.

The owner of the Daily Mirror, which has been cutting costs to counter a fall in circulation and print advertising, said group revenue was expected to fall about 9 percent on a like-for-like basis.

Trinity, which also publishes the Sunday Mirror and The People, said publishing revenue was expected to fall 10 percent, while print revenue was seen down 12 percent, partially offset by a 5 percent growth in its digital unit.

Publishing print advertising revenue fell 21 percent for the 26-week period to July 2, while circulation revenue fell 6 percent, the company said.

Trinity also said it had set aside an additional 7.5 million pounds for the settlement of civil claims related to phone hacking.

Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri

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