Trinity Mirror – preliminary results for 2011.

Trinity Mirror PLC has announced preliminary results for 2011.

Highlights

  • Total revenues fell to £746.6m during the year
  • Operating profit declined to £104.5m
  • Profits impacted by input cost increases
  • Newsprint prices increased by £22m; without newsprint increase operating profit would have seen a year-on-year increase
  • Increase in costs partially off-set by structural savings of £25m during the year and further cost reductions
  • Secured new financing to support business for the foreseeable future (see DigiNet article)
  • Reduced pension funding obligations
  • Resilient cash flows, improving financial position and secure longer term financing will underpin value proposition of business

 

Full details are available here

UK, London

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