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Trinity reiterates 2015 profit target despite print ad slump

Reuters - UK Focus

LONDON, Aug 3 (Reuters) - British publisher Trinity Mirror (LSE: TNI.L - news) said it expected to hit its profit forecasts for 2015 after cost cuts and growth in digital income softened the impact from the continued fall in newspaper print advertising sales.

The home to the Daily Mirror newspaper said that while first-half revenue fell 8.7 percent, cost savings helped adjusted profit before tax to fall just 2.5 percent to 47 million pounds ($73.43 million) in the 26 weeks to June 28.

Revenue from print sales were down 11.6 percent, although the group noted that July revenue trends were better than those experienced in May and June.

($1 = 0.6401 pounds) (Reporting by Kate Holton; editing by Sarah Young)