Small signs of some economic stability in 2010
April 8, 2010 by Lyndon
All kinds of printing companies around Liverpool have looked at ways to combat current economic difficulties. The recession has made life difficult for all, including flyer and brochure printers in Liverpool, right through to high volume newspaper printers. However, there could be signs of better stability in 2010.
Trinity Mirror, a large print group who produce many well known dailies and regional newspapers, could be looking at a better 2010. During the downturn the company took measures to counter the recession. 1,700 redundancies were made and 30 titles were closed after end of year figures revealed that turnover was down to £763.m from £871.7m in 2008 and Pre–tax profit was down to £72.7m from £124.2m in 2008. The group did reduce its debt in 2009 by £60.2m, which left it standing at £324m.
The better news is that the group has promised there will be no further job cuts or title closures in 2010, despite plans to cut its cost base by £20m in 2010. Chief Executive, Ms. Sly Bailey, said:
“During 2010, we will maintain a focus on costs while reaping the benefits of an improvement in the rate of decline in advertising revenues. While the board remains cautious about the economic outlook, it anticipates a satisfactory performance for 2010,”
It can be useful for small printing companies in Liverpool to monitor the performance of large companies such as this. Watching improvements in their fortunes can make it easier to spot economic trends.