Trinity Mirror to stop cutbacks

Group posts pre-tax profits of £72.7m.

Trinity Mirror has stated that it will end its bout of staff cuts and newspaper closures. The announcement came today as the company reported pre-tax profits of £72.7m for 2009, exceeding analysts expectations.

The publisher made £68m through last year's cost-cutting programme and plans to make a further £20m saving this year, howere the coming programme will not focus on its staff and newspapers. The previous year saw 30 titles shut or sold and 1,700 jobs axed.

The company also announced that the advertising market has improved to the extent that revenue could be flat in the second half of 2010.

Trinity Mirror's share price received a 5.55 per cent bump earlier today on the back of the positive results.