Trinity Mirror plans to double cuts as print revenue falls
Published 26/06/2015 | 08:29
Newspaper publisher Trinity Mirror, the parent company of the Irish Mirror, said it expected an 11pc fall in first-half revenue as print advertising markets continued to remain challenging.
The company, which owns the Daily Mirror and Sunday Mirror titles as well as the Irish Daily Mirror, saw an 11pc decline in underlying print publishing revenue for the 26 weeks ended June 28.
Print advertising revenue is expected to fall 19pc in the period, said the company, which has been battling lower advertising rates at Daily Mirror and Sunday Mirror.
Trinity Mirror said it was targeting structural cost savings of £20m (€28m) for the year, compared with the £10m it targeted in March.
The increased cost-savings target would add £5m to restructuring expenses, the company said.