Revenue down but profits rise at Trinity Mirror
Trinity Mirror has posted a 2.6% rise in pretax profit, to £101.3m, however, that came as revenue dropped by 6% to £663.8m.
The anomaly is down to “tight cost management” and there were signs of a recovery in revenue towards the year-end - despite a further (3%) decline at the start of 2014.
The publisher has benefited from a growth in online, with monthly uniques across its websites up 58.9%, with page views up 66.3% and advertising revenue climbing by 30.1%.
"Strong print and digital revenue trends at the end of 2013 enabled us to finish the year ahead of expectations,” explained chief executive, Simon Fox.
“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. I look forward to making further progress with our strategic objectives during 2014.”
It had initially sought to make £10m savings last year, but it ended up £2m ahead of target.
Regionally, the Group is launching an “enhanced publishing package” for its Saturday titles, plus 4 new titles in North Liverpool - The Star series will have editions for Anfield and Walton, Maghull and Aintree, Kirkby, and Crosby and Bootle.
Following on from the split into North and South Manchester editions for the MEN, there is now a Wirral edition of the Liverpool Echo and a county edition of the Chester Chronicle.