Trinity Mirror’s 2008 digital revenues were 27.1 percent higher year-on-year at £43.6 million—but it wasn’t enough to stop the company recording a full-year pre-tax loss of £73.5 million, lower revenues and diminished profits. The company, which says it has suffered a 30 percent dip in advertising revenue in 2009 so far, made profits of £145.2 million—a £40.9 million drop year on year—on revenues £61.2 million lower at £871.1 million. Earnings per share were down to 33.4 pence from 45.5 pence a year ago.

SEE ALSO: Trinity Mirror Says Digital Restructuring Plan Saves 30 Percent On Midlands Costs

So, no surprises here, there’s yet another cost-cutting programme: on top of the £30 million it saved through 1,200 job losses in 2008, (that’s nine percent of the workforce and puts Trinity £10 million ahead of its 2008 savings target), the company will now save “at least” another £25 million this year.

—Digital growth: Trinity made five percent of its revenues from digital in 2008, compared to 3.7 percent in 2007 and despite its newspaper closures the company launched 200 digital products last year and increased headcount by 120. The group’s overall audience is growing too: average monthly unique users grew 42.1 percent to 11.3 million. Trinity’s regionals made 25 percent higher digital revenues at £38 million while the nationals made £5.6 million, a 43.6 percent rise. That’s progress on the way to achieving the company’s goal of 24 million monthly unique users by 2010 and £100 million of digital revenue by the end of 2011—but Trinity says “the severity of the economic downturn is expected to slow digital growth in the near term”. So the company doesn’t sound overly optimistic of meeting those goals…