Trinity Mirror expects to beat forecasts after strong end to 2013
Trinity Mirror expects adjusted profit for 2013 to beat market forecasts after a strong end to the year.
Total revenue in November and December fell 1% compared to the same period in 2012, but digital revenue increased by 32%.
That offset a marginal decline in circulation revenues and an improved print advertising decline of only 3%, leading to the publisher predicting that adjusted operating profit for 2013 would be ahead of market expectations by around 4%.
The group added that it would also take some significant impairment charges, totalling £225million, in respect of the group’s goodwill and intangible assets. In addition, it highlighted a separate non-cash impairment charge of around £700m when the final results are published.
Chief executive Simon Fox said: “I am pleased with the Group’s performance for 2013, which is ahead of our expectations following a better than anticipated end to the year.
“The impairment charges are driven by technical accounting requirements. They do not relate to or impact the progress we are making with our strategy and I continue to believe that the business has significant long term potential.”
Among Trinity's regional titles are the Liverpool Echo, Manchester Evening News and Newcastle Chronicle.