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Trinity Mirror to take 'mitigating actions' following Brexit decision

Published 01/07/2016

Trinity Mirror publishes the Mirror newspaper
Trinity Mirror publishes the Mirror newspaper

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 £7 million.

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