News Column

Media Mirror sets aside pounds 4m for phone-hacking costs

July 29, 2014

The publisher of the Daily and Sunday Mirror has made a pounds 4m provision for the future cost of dealing with allegations of phone hacking and confirmed that it faces 17 compensation claims. Trinity Mirror said yesterday that the final cost of dealing with the allegations was

not clear.

"The group continues to co-operate with the police in respect of Operation Elveden [relating to alleged inappropriate payments to public officials] and Operation Golding [the investigation into phone hacking]," the company said as it unveiled its financial results. "In the first half we have provided pounds 4m to cover the cost of dealing with and resolving claims. It remains uncertain how these matters will progress."

Mirror Group Newspapers is facing legal action over alleged phone hacking from individuals including Cilla Black, Davina McCall and Sven-Goran Eriksson.

Trinity Mirror reported a 66% jump in pre-tax profits to pounds 50.5m in the first half of the year. Stripping out one-offs, Trinity Mirror reported a slight fall in adjusted pretax profits to pounds 48.2m. Total revenues fell 2.3% to pounds 324m, while digital revenues jumped 47.5% to pounds 14.9m. Mark Sweney

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Source: Guardian (UK)

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