Trinity boosted by web traffic

Oliver Smith
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TRINITY Mirror, publisher of the Daily Mirror and more than 100 regional titles, said revenue fell five per cent during the third quarter to 27 October, but website traffic rose nearly 70 per cent.

The company’s share price jumped 19.5 per cent to 165p on the news that Trinity’s performance for the year would be “at the higher end of market expectations”.

Liberum Capital analyst Ian Whittaker upgraded his target price for Trinity from 200p to 260p with a buy rating, but warned that the Trinity’s digital strategy might not be able to offset print declines for many years, “even in 2016, we assume a 2.1 per cent decline.”