Trinity Mirror confirms pay freeze for 2012

Trinity Mirror has confirmed it will not hold a pay review next year following a "challenging year" in 2011.

In a statement, the publisher announced that the pay freeze would apply to all, including "the board, all management and employees of the group".

"2011 has been a challenging year for the business and the outlook for 2012 shows no signs of improving", a spokesman added.

Annual inflation stands at 5 per cent, according to the Consumer Prices Index (CPI) figures released last month.

In an interim management statement published last month, covering the 17-week period ending 30 October, the publisher reported an increase in circulation revenues of 10 per cent, but advertising revenues were down by 10 per cent.

Its regional division also saw a drop in advertising revenues of 7 per cent, as well as in circulation revenues which fell by 3 per cent.

This followed half year results in August which saw the company announce a 17 per cent drop in adjusted pre-tax profits to £41.9 million and a 3 per cent decline in total revenue for the group to £371 million.

Free daily newsletter

If you like our news and feature articles, you can sign up to receive our free daily (Mon-Fri) email newsletter (mobile friendly).