LONDON Feb 27 British newspaper publisher
Trinity Mirror said it would focus on growing its
digital advertising sales and further diversify its income after
reporting a 10.7 percent drop in full-year print revenue.
The owner of the Daily Mirror, which has been ripping out
costs to counter the fall in circulation and print advertising,
said it had seen particularly weak demand from retail customers
for display ads, and a drop in classified recruitment postings.
However the tight control on costs and the acquisition of
more local newspapers enabled Trinity to post a 12 percent rise
in adjusted earnings per share and to say that it was confident
it would be able to deliver sustainable growth in revenue,
profit and cash flow over the medium term.
"We have delivered a strong financial performance in the
year despite the challenging environment we face," Chief
Executive Simon Fox said.
"I am particularly pleased with the progress we have made in
growing our digital audience and revenue, and with the work we
have done this year to develop and refine our strategic
priorities for the year ahead."
(Reporting by Kate Holton, editing by Louise Heavens)