Trinity Mirror Group issues profit warning

Date: 30th June 2008

A leading media group has issued a profit warning for the full year.

According to reports, Trinity Mirror Group has confirmed that full year profits will be lower than expected by a total of ten per cent.

The fall in profits has been blamed upon weakening market conditions in the advertising sector.

"We have seen a marked year on year decline in advertising revenues across our businesses during May and June and this is expected to continue for the remainder of the year," said the group, in an announcement to the London Stock Exchange.

The group has also confirmed its decision to partially cancel a £175 million share buyback programme - of the total amount, £67 million has now been cancelled.

In addition to 150 different regional titles, the Mirror Group, an organisation with a history going back to 1999, publishes a number of other newspapers, including the People and the Daily Mirror.