In a trading update released today (here), Trinity Mirror in the U.K. said its full-year performance is on track to meet expectations, despite a nine percent fall in revenue in the third quarter to September 27, extending a 13 percent decline already reported in Q2 to June 28.
It said the trading environment remains volatile, but while revenue from publishing and print fell, publishing digital revenue grew by 24 percent, with publishing digital display advertising revenue growing by 33 percent.
The company reported strong growth in its digital audience with average monthly unique users and page views growing by 31 percent and 48 percent, respectively.
It reported good progress with strategic initiatives, continued to have strong cash flows, and remained on track to deliver structural cost savings of £20 million ($30 U.S. million) announced earlier this year.
It anticipated performance for the remaining quarter to be in line with expectations.
The Trinity Mirror portfolio includes newspapers, websites and digital products. It is one of the U.K.’s largest multimedia companies, employing over 4,300 people across more than 48 locations around the country.
It’s classified sites include GAAPweb, Totally Legal, JobsFinancial, SecsintheCity and CareerEngineer.