Digital Revenue Grows by a Quarter for Trinity Mirror

Trinity Mirror’s digital revenue grew by 27 per cent year on year driven by strong audience growth, the publisher announced this week.

Announcing its half-yearly financial report for the 26 weeks ending 28 June, the publisher said average monthly unique users increased by 55 per cent to 95.3 million year on year, with average monthly page views increasing 59 per cent to 698.4 million year on year.

Digital advertising revenue increased by 26 per cent year on year  and digital display revenue grew by 44 per cent. Digital other revenue increased by 35 per cent, the publisher said.

Trinity Mirror chief executive Simon Fox said: “The print advertising environment has been more challenging than anticipated in the first half. As a result, whilst continuing to invest in people and technology to drive the ongoing growth in digital audience and revenue, we have taken further action to address our print cost base.

“The strong cash generative nature of the business has enabled us to continue to strengthen our balance sheet, to the extent that the Group had a net cash position for the first time in its history at the end of the half year. At the same time we continue to make the agreed pension contributions whilst paying an interim dividend of 2 pence per share.

“I remain confident that our strategy will deliver sustainable growth in revenue and profit over the medium term despite the difficult print advertising market conditions. The actions we are taking in support of both our print and digital products provide the Board with confidence that profits for 2015 will be in line with expectations.”