Its shares fell 25% as it warned that trading conditions would lead to a 10% fall in profits as well as announcing that it would cancel part of its share buyback programme.
The Company announced
"We have seen a marked year-on-year decline in advertising revenues across our businesses during May and June and this is expected to continue for the remainder of the year.
"In view of these difficult trading conditions and the uncertain outlook the group currently anticipates the full-year operating profit to be some 10pc lower than expectations.
"Month-on-month volatility remains and this could worsen as we trade through a very uncertain economic outlook.
"In the challenging advertising environment management continues to manage the cost base tightly and will continue to seek opportunities for further efficiencies in operations
which may well mean further job cuts and cost savings on top of those it has already announced.
For a good synopsis of the situation former Mirror journalist Roy Greenslade says
the group has been ailing for some time, desperately trying to cope with problems in both its regional and national divisions.but argues that though Trinity
may have been a little slow out of the blocks, but it has been pursuing an aggressive digital strategy, particularly in the last year. The trouble is that it isn't making the slightest difference to the numbers that matter.
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