Trinity Mirror clarification

In our issue dated Friday 4 March we printed the headline "Trinity Mirror tanks after costs outstrip savings". Trinity Mirror's share price did fall by 22 per cent, but annual profits for 2010 were actually higher due to cost cutting. However, the group warned that in 2011 “structural cost savings” would be “more than offset by general inflationary price increases, average increase in newsprint prices in excess of 20 per cent and investment in [its] businesses.” It said it expected restructuring costs in 2011 to be around £10m.