NEWSPAPER publisher Trinity Mirror is rewarding shareholder patience with its first dividend since 2008 after the company recorded a return to profit.
Full-year results yesterday revealed the company’s focus on digital growth is starting to pay off. The company, best known as the publisher of the red top Daily Mirror, said that while the print industry remains challenging, the number of unique monthly visitors to its websites had increased by 87 per cent year-on-year to 73m – contributing to a 47 per cent rise in digital revenues to £32m for the year ended 28 December 2014.
The group has sought to expand upon its ongoing online success with last year’s launch of new applications such as PinPoint, a mobile geo-targeting product for advertisers. Despite its online success, revenue for the group declined, albeit at a slower pace than during the previous year. Revenues fell four per cent to £636m, driven by a 6.3 per cent fall in print revenues.
The company saw a return to profit during the period, with pre-tax profits of £81.6m, up from a loss of £160m during 2013.