Trinity Mirror today reported a 25.7 percent operating profit increase to £61.7 million in the first six months of 2010, enhanced by a £2.7 million profit and £18.2 million revenue generated from the recently acquired Manchester Evening News and 35 other regional publications, MediaWeek informed.
In March, the company bought the Guardian Media Group's Regional Media for £44.8 million. The deal "has helped to boost the group's income, which would have suffered a 5 percent drop without it," MediaGuardian explained.
"The acquisition of GMG Regional Media was a clear demonstration of our ability to lead consolidation in regional media in a way that adds substantial value for shareholders," Trinity Mirror CEO Sly Bailey state in a press release.
Overall, the publisher of the Daily Mirror kept the group's total revenues at £382 million, slightly down from the £383.0 million gained in 2009. According to the company's report, 46 percent of the total revenue comes from advertising.
While the regional dailies division saw a revenue rise of 4.5 percent to £162.4 million, the total revenue "generated by its national titles fell by 3.4 percent from £227.6 million to £219.8 million in the period, mainly as a result of declining circulation revenue which dropped 6.2 percent to £125 million," The Press Gazette revealed.
Early this month, rival Daily Star cut its price to 10 pounds in a move aimed to gain more readers. However, Bailey said to The Guardian that Daily's Star's price cut had a "minimal impact on the Mirror's sale, less than 2,000 copies per day" and explained the company has no intention to engage in a price war.