26-week period ending 2nd July 2006
Trinity Mirror plc is today issuing a trading update ahead of its close period. The company will announce its interim results on 3rd August 2006.
On a like-for-like basis, excluding acquisitions completed in 2005 and 2006, Group advertising revenues for the 26-week period are expected to fall by 10.6% year-on-year. Including acquisitions Group advertising revenues for the period are expected to fall by 8.4%.
Like-for-like advertising revenues for the Regionals division are expected to fall by 9.7% for the period. With the exception of property advertising, which is expected to increase by 1.9% for the period, all advertising categories are expected to decline with falls of 6.7% for display, 21.0% for recruitment, 12.9% for motors and 3.0% for other classified categories.
Advertising revenues for the Nationals division are expected to fall by 12.1% for the period reflecting a 12.7% decline in the UK National titles and a 10.5% decline for the Scottish National titles.
Advertising revenues for the Sports division are expected to fall by 16.0% year-on-year and the Magazines and Exhibitions advertising revenues are expected to fall by 12.3%.
Group circulation revenues for the 26-week period are expected to fall by 1.0% year-on-year reflecting the impact of reduced volumes and vouchering activity on the Scottish Nationals partially offset by cover price increases. Expected circulation revenue declines of 1.4% for the Nationals, 3.1% for Sports and 1.1% for Magazines and Exhibitions have been partially offset by an expected increase of 1.4% for the Regionals division.
As highlighted at the AGM, the advertising environment remains weak and management continue to run the business on the assumption that this will continue for the remainder of the year.