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| Trinity Mirror profits fall again | Trinity Mirror profits fall again |
| (35 minutes later) | |
| Trinity Mirror, owner of the Mirror newspaper, has reported a sharp drop in annual profits as it launches a new daily title. | Trinity Mirror, owner of the Mirror newspaper, has reported a sharp drop in annual profits as it launches a new daily title. |
| Pre-tax profit fell £14.4m to £67.2m for 2015 on a "challenging" print market, with revenue down 6.9%. | Pre-tax profit fell £14.4m to £67.2m for 2015 on a "challenging" print market, with revenue down 6.9%. |
| Although the company expected conditions to remain difficult this year, it has launched The New Day, a daily paid-for title. | Although the company expected conditions to remain difficult this year, it has launched The New Day, a daily paid-for title. |
| It will cost 25p for two weeks before rising to 50p. | It will cost 25p for two weeks before rising to 50p. |
| Chief executive Simon Fox said the new title "fills a gap in the market for a daily newspaper designed to co-exist in a digital age". | Chief executive Simon Fox said the new title "fills a gap in the market for a daily newspaper designed to co-exist in a digital age". |
| The New Day is edited by Alison Phillips, the Mirror's weekend editor. | The New Day is edited by Alison Phillips, the Mirror's weekend editor. |
| She said she aimed to "cover important stories in a balanced way, without telling the reader what to think". | She said she aimed to "cover important stories in a balanced way, without telling the reader what to think". |
| The title would be a standalone paper rather than a cut-down version of the Daily or Sunday Mirror, Ms Phillips said, although it will take content from those titles along with Trinity's regional titles and the Press Association news agency. | The title would be a standalone paper rather than a cut-down version of the Daily or Sunday Mirror, Ms Phillips said, although it will take content from those titles along with Trinity's regional titles and the Press Association news agency. |
| The new title has been launched despite declining sales of newspapers as readers increasingly move online. | The new title has been launched despite declining sales of newspapers as readers increasingly move online. |
| Earlier this this month the owner of the Independent titles said the print versions would close at the end of March. | Earlier this this month the owner of the Independent titles said the print versions would close at the end of March. |
| Trinity Mirror also said it had put aside £29m in relation to civil claims arising from phone hacking charges. | Trinity Mirror also said it had put aside £29m in relation to civil claims arising from phone hacking charges. |
| Annual revenue was a better than expected £592m, which helped send shares up 3.8% in morning trading to 158.5p. | |
| However, the shares is still down about 20% over the past 12 months. |