Trinity Mirror to take 'mitigating actions' following Brexit decision

Trinity Mirror to take 'mitigating actions' following Brexit decision

The publisher behind the Mirror newspaper has said it will take "mitigating actions" to support profits in the wake of Britain's decision to leave the European Union.

Trinity Mirror did not specify what actions it would take, but the announcement comes days after the firm launched a consultation with staff over potential job cuts.

"We will continue to invest in digital growth and take the necessary mitigating actions to support profits given the increased uncertainty arising from the outcome of the UK's referendum on EU membership," the company said.

Trinity also said that like-for-like revenue fell 8% in the first half of the year, with print advertising revenue dropping 17%. However, the firm added that digital sales were up 14%.

Trinity's share price has plunged more than 25% since Friday, when British voters delivered their Brexit verdict.

In May, the company was forced to shut the New Day newspaper after just two months. The venture is thought to have cost the company up to £7m.

More in this Section

UK lines up insurance firms for Covid compensation test caseUK lines up insurance firms for Covid compensation test case

Hotel enquiries jump after July 20 set for reopening in Northern IrelandHotel enquiries jump after July 20 set for reopening in Northern Ireland

Lufthansa bailout hopes in hands of investors as board finally clears €9bn dealLufthansa bailout hopes in hands of investors as board finally clears €9bn deal

Shoe retailer Aldo collapses as coronavirus continues to hammer UK high streetShoe retailer Aldo collapses as coronavirus continues to hammer UK high street


Lifestyle

Ahead of the final episodes this week, Jessie Collins charts Normal People’s phenomenal success — and wonders how we’ll cope without it.Normal People ends tonight - how will we cope when it's all over?

More From The Irish Examiner