View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. Media Business
March 13, 2014

Trinity Mirror reports 2013 profit rise from cost savings amid fall in revenue

By Press Gazette

Trinity Mirror has reported a 2.6 per cent rise in pre-tax profits for 2013 to £101.3m, despite revenue falling 6 per cent over the same period to £663.8m.

The group said "tight cost management" helped profits grow and that there were signs of revenue beginning to improve towards the end of last year.

However, it said the first two months of 2014 have seen revenue decline 3 per cent, however, despite strong growth in digital.

The publisher said monthly unique users across its network of websites grew by 58.9 per cent over the year, with page views up 66.3 per cent and digital advertising revenue up 30.1 per cent.

On the digital side, the publisher said: "We now have the basics in place we will continue to make significant improvements to usability and content across desktop, mobile and tablets in order to drive both digital audience and revenue."

Trinity Mirror chief executive Simon Fox said: "Strong print and digital revenue trends at the end of 2013 enabled us to finish the year ahead of expectations.

"It is clear to me that our strategy for growth, which I outlined in March last year, is gaining momentum. I am particularly pleased with our rapidly growing digital audience and with the benefits we are driving in harnessing the combined strength of our national and regional titles.

Content from our partners
MHP Group's 30 To Watch awards for young journalists open for entries
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it

"I look forward to making further progress with our strategic objectives during 2014."

Trinity Mirror said it would continue its "relentless focus on efficiency and cost management through the use of technology to simplify, centralise or outsource those processes which are non-consumer facing".
It delivered £12m of structural costs savings in 2013, £2m ahead of the £10m target that was set at the beginning of the year.

Net debt was cut to £97m and Trinity Mirror said it expected to repay another £44.2m this summer.

Trinity Mirror also gave details about the profitability of Local World, in which it owns a 20 per cent stake. Trinity's share of first-year profits amounted to £5.1 million.
Local World chief executive David Montgomery said: "Local World has delivered a strong profit and cash-flow performance and our revenues were in line with expectations. We will provide more detail in May when our accounts have been audited."

Topics in this article :

Email to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network