Commenting on the results for the year, Simon Fox (pictured), Chief Executive, Trinity Mirror plc, said: “It has become clear to me in my first six months that not only is Trinity Mirror a strong and cash generative business, as evidenced by this past year's financial performance, but that there is significant further unrealised potential.
We will be investing £8 million during 2013 to deliver our strategic objectives whilst ensuring we repay maturing longterm debt over the next 15 months. Over this period our financial flexibility will improve such that we can both meet our pension funding obligations and consider the potential for returning capital to shareholders.
Although the trading environment is expected to remain difficult, the strategic initiatives I have implemented will bring significant benefits with the ambition of delivering sustainable profit growth over the medium term.”
