The UK’s biggest newspaper publisher Trinity Mirror today reported a “gradual improvement” in advertising revenues.
The news comes a day after Merrill Lunch gave Daily Mail and General Trust shares a “buy” rating – and is further evidence that publicly listed media companies are on the up after several months of declining share prices.
Vijay Vaghela, group finance director of Trinity Mirror plc, told the TMT Conference in Barcelona today: “We have experienced a gradual improvement in advertising market conditions during 2007 and are pleased to announce that for the 10 months to the end of October underlying Group advertising revenues have grown marginally year on year.
“Whilst the advertising environment remains volatile month on month we are encouraged by the trends that are emerging.”
Trinity revealed tday that group advertising revenues for the 10 months to the end of October were up 0.1 per cent on a like-for-like basis.
In the regionals division advertising revenues were flat for the 10 months to October.
In the nationals division – which includes the Daily Mirror, People and Daily Record – advertising revenues increased by 0.9 per cent for the 10 months to October.
Circulation revenues for the group increased by 0.8 per cent in the same period.