Newspaper publisher Trinity Mirror has overcome a drop in revenues to deliver higher profits for the first half of the year.
The owner of titles including the Daily Record, Daily Mirror and Sunday Mail was helped by a reduction in costs, which dropped 9.2 per cent during the six months to 30 June.
Revenues fell 8.5 per cent to £332 million, with much of the decline blamed on last year’s launch of the rival Sun on Sunday title. Pre-tax profits edged up 2.5 per cent to £49.3m.
Chief executive Simon Fox said a 4.6 per cent fall in circulation for the Daily Mirror had outperformed the national daily tabloid market, which shrank 9.6 per cent in the first half.
He added: “We expect the trading environment to remain difficult for the remainder of the year, with continued month-on-month volatility.”
Net debts at the group, which employs more than 5,000 people, fell by £36.7m to £120.3m.