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Trinity Mirror results expected to be ahead of consensus forecasts.

TRINITY Mirror expects its full year results to be ahead of consensus forecasts, it said yesterday.

The parent company of the Daily Post issued a trading update saying the figures, which will be released on March 2, should be "marginally" ahead of expectations. This is despite making further provision to cover costs associated with historic phone hacking claims.

In its interim statement last July the group said it had put aside PS4m to cover such claims, but this will now be enhanced to PS12m.

The company has also issued an apology to individuals affected by these claims.

Yesterday's update said the media group expects adjusted profits and earnings per share for the 52 weeks ended December 28, to be marginally ahead of consensus forecasts with strong cash generation enabling a reduction of net debt to below PS20m, after pre-paying PS17m of pension deficit funding payments due in future periods.

Net debt has fallen further since the year end following receipt of special dividends from the Local World newspaper group of PS12m.

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Publication:Daily Post (Conwy, Wales)
Date:Feb 14, 2015
Words:171
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