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Trinity Mirror says will beat 2013 profit forecasts
February 4, 2014 / 7:31 AM / 4 years ago

Trinity Mirror says will beat 2013 profit forecasts

LONDON, Feb 4 (Reuters) - British newspaper publisher Trinity Mirror said 2013 adjusted profit would beat market forecasts after better than expected trade in November and December, but added it would also take some hefty impairment charges.

The publisher of the Daily Mirror and Sunday Mirror newspapers said on Tuesday it expected adjusted operating profit for 2013 to be ahead of market expectations by some 4 percent, with adjusted earnings per share 5 percent ahead of forecasts.

It added that following an annual review, it expects a non-cash impairment charge of 225 million pounds ($367 million) in respect of the group’s goodwill and intangible assets.

In addition, the firm said it also expects a separate non-cash impairment charge in the company balance sheet of around 700 million pounds in respect of the investments in subsidiary companies held by the company.

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