Trinity Mirror reports £161m annual loss
- 13 March 2014
- From the section Business
Media group Trinity Mirror has reported a pre-tax loss of £161m for 2013 compared with £9.7m of profit for 2012.
Its revenues fell by £42.7m due to a "difficult economic environment" and "structural pressures facing print media", the firm said.
The company's online offering saw strong growth, particularly for mobile content.
Average monthly unique users grew by 59% and average monthly page views grew by 66%.
"I am particularly pleased with our rapidly growing digital audience and with the benefits we are driving in harnessing the combined strength of our national and regional titles," said chief executive Simon Fox.
The group had a strong end to the year, enabling it to finish ahead of expectations, Mr Fox said.
Trinity Mirror publishes the Daily Mirror, Daily Record, Manchester Evening News and other titles.
Multinational media firm Thomson Reuters also had a challenging year in 2013.
The company posted an operating profit of $1.5bn (£900m) for 2013, down 41% from $2.6bn the year before.
It said it had achieved its 2013 outlook despite its two largest markets, legal and financial information, being a "challenging environment".
Revenues were down 3% to $12.3bn from $13.1bn in 2012.
In February 2014 the company said it expected its 2014 revenues to be comparable to 2013.