TRINITY Mirror, the publisher best known for its Daily Mirror, Sunday Mirror and Sunday People titles, yesterday announced a whopping 12 per cent decline in ad revenue during the 17 weeks to 26 October.
The company attributed the fall to a decrease in spending from supermarket brands, which dragged overall revenue down by five per cent during the period.
“Despite the recent deterioration in national press advertising trends I remain confident that our strategic initiatives will ultimately deliver sustainable growth in revenues and profits”, said Trinity chief executive Simon Fox.
“I am pleased with the strategic progress we are making in building the scale and reach of our digital brands. At the end of September, our group digital audience exceeded 90m monthly unique users with continued strong growth in digital revenue.”
Digital revenue increased 44 per cent in the period as average monthly unique users grew by 100 per cent during the period.
Trinity’s shares fell 6.02 per cent during trading yesterday to 156p.