Tuesday, March 30, 2010

Northcliffe update shows improving situation

The Leicester Mercury's ultimate parent company, Daily Mail and General Trust, today released a trading update covering the first five months of the current financial year (which runs from October to September).

You can read the full statement here, but the general situation does appear to be getting better and this is the summary of what it says about Northcliffe, the company which runs the regional newspapers, including the Mercury:
For Northcliffe Media, underlying UK revenues for the period were 9% lower than last year with advertising revenues down 10%. Advertising trends have continued to improve: for the quarter to March so far they were 5% lower, with recruitment revenues 14% lower, but property revenues 4% above last year. Circulation revenues fell by 7% compared to last year for the five month period.