With the media sector slowly recovering from the recession hurt, many newspapers are now looking at a better future, including Trinity Mirror, one of Britain's largest and most prominent newspaper groups, which has reported that the sharp fall it had experienced in revenues is now slowing down. The company is now confident about meeting its expectations for the 2009 fiscal year.
Post the revelations, Trinity Mirror shares saw a 3.6% rise on Thursday.
Trinity, which undertakes the publication of the Daily Mirror and numerous other national and regional papers, reported that the advertising revenue for the first 17 weeks of the year's second half fell only 20%, as compared to the decline recorded for the same period in the first half which stood at 28%.
"Whilst the trading environment will continue to be challenging over the remainder of the year and into 2010, we anticipate that the rate of decline in revenues will continue to improve," the company shared.
In light of the new developments, and a slowly stabilizing media sector, Trinity is looking at a profitable year end report and a better performance for the coming fiscal year.
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