Trinity Mirror cautious after H1 sales fall 8 pct
LONDON, July 31 |
LONDON, July 31 (Reuters) - UK newspaper publisher Trinity Mirror (TNI.L) reported an 8 percent drop in first-half sales as spending on print advertising continued to decline, prompting it to implement further cost-cutting measures.
First-half sales were 460.8 million pounds ($912.3 million) and advertising revenues fell by a further 15 percent in July, the newspaper group said on Thursday.
"The outlook for the UK economy continues to remain uncertain," it said. "Given this uncertain economic outlook for the UK we remain cautious about trading prospects" (Reporting by Georgina Prodhan)
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