Mecom posts drop in sales

Newspaper group Mecom said yesterday that it saw evidence the advertising market was stabilising since a low point in February, but reported a 22 per cent drop in ad revenues for the first half of the year. Mecom, which has titles in the Netherlands, Norway, Denmark and Poland, raised its full-year cost-saving target to €100m (£85.5m), from €75m in the face of advertising uncertainty.