In a run of trading updates from newspapers reporting gloomy advertising sales, something is missing from Trinity Mirror’s figures. The almost statutory reference to rising internet advertising is not there.
For the half-year interim results due of August 3 are expected to show a 10.6% like-for-like year-on-year fall in ad revenue with the regionals performing slightly better than the English and Scottish national titles.
The only bright spot is a 1.9% increase in property advertising but what is happening to the internet sites? As The Times points out Trinity Mirror is gaining a decent foothold online. It has made a number of significant investments in both property and employment sites. But we are getting little indication of how much advertising they are pulling in.