Friday, 12 August 2011

Trinity "Smoking" Mirror Get Both Barrels.

Sales and profits at UK newspaper group Trinity Mirror have continued their decline in the first half of the year.

Revenues dropped 2.9% to £371m in the 26 weeks to 3 July, the company's latest interim results revealed.
Profits before tax fell to £28.9m - with underlying profits down 17% to £41.9m.
The firm may not itself be immune from the hacking scandal.

Three or four cases are due to be brought against the firm, according to lawyer Mark Lewis, who is representing a number of claimants, including the family of murdered schoolgirl Milly Dowler.
The firm said it was still too early to determine what impact there might be on its businesses from the public inquiry or an internal review of editorial controls.
"In addition the company has sought and received formal written confirmation from senior editorial executives... [that] they have not nor, to their knowledge, have any of their staff or anyone on their behalf, intercepted any telephone messages, made payments to serving police officers or accessed the police national computer."

However over at Oldham Hall Street everything seems fine, Trinity Mirror boosts investment.

Chief executive Sly Bailey said: “While the economic environment remains difficult we have undertaken a series of actions to limit the impact on operating profit.

“The roll-out of our technology led operating model continues to deliver efficiencies and today we have announced an increase in our 2011 cost savings target to £25m.
“At the same time we’re investing across the group to diversify and grow revenues.
“Following changes to the national Sunday newspaper market we are highly encouraged by the considerable circulation volume growth seen by our national Sunday titles.”

All this while Sly "Arse" Baily got a 300 grand bonus on top of her 600grand salary for making thousands of people redundant and leaving the local press exposed to accusations of shipping their own printing presses out of the city.
Did Alastair Machray the grim reaper really become a journalist to sack hundreds of people.
The real reason for loss of circulation is you just cant trust them at Trinity "Smoking" Mirror Group.

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