Thursday, 13 November 2008
Ad decline 'accelerating' says Trinity
More bad news today with Trinity Mirror announcing in an interim management statement that underlying ad revenues are down 20.1 per cent in the 17 weeks to 26 October. Trinity says that trading conditions have continued to deteriorate since the half year, with rates of decline "accelerating in all advertising categories". The company says it will deliver cost savings of £25 million in 2008 and at least £20 million will be delivered in 2009. Trinity Mirror closed 28 newspapers this year.