MEDIA group Trinity Mirror reported adjusted pre-tax profits of £50.4m compared with £31.3m on flat revenues of £382.2m in the six months to July 4.
The group, which includes the Liverpool Daily Post, also announced a £5m improvement in cost savings of £25m.
Chief executive Sly Bailey said the group strategy had secured the strong first half performance, adding: “We are now reaping the benefits of these actions with profits increasing and slowing rates of decline in underlying revenues.”
Trinity’s portfolio grew with the acquisition of Guardian Media Group, including the Manchester Evening News, in March for £7.4m cash which Ms Bailey said “adds substantial value for shareholders”.
Group advertising revenues rose by 4.5% to £176m in the period.
Operating profits from regional operations were £28.9m compared with £17.3m, while the national division, including the Daily Mirror, recorded an operating profit of £39.5m against £38.2m last year.
However, Trinity said it anticipates month-on-month revenue volatility.
