The UK’s biggest regional newspaper publisher, Trinity Mirror, today reported an improvement in the rate ad revenues have been falling.
It follows a similar message from other big regional press player Johnston Press yesterday.
The group also reported today that it is on course to have cut its cost base by at least £65m by the end of the financial year.
The company said in a stock market update: “Whilst the trading environment will continue to be challenging over the remainder of the year and into 2010, we anticipate that the rate of decline in revenues will continue to improve. This coupled with ongoing management initiatives to drive revenues and reduce costs will support profitability.”
While advertising revenue in the first half of the year was down 28 per cent, an improvement in the second half means the overall decline for the year to date is now 25 per cent, the company said.
In the regionals division ad sales were down 35 per cent year on year in the first half and 27 per cent in the second half of the year to October.
In the nationals division the advertising revenue decline has dropped from 14 per cent of the first half of the year to six per cent.
The company said: “Early indications for November are that advertising revenues for the nationals will fall by around five per cent and for the regionals by around 22 per cent. Group circulation revenues are expected to fall by around one per cent for November.”