Trinity Mirror

Trinity Mirror has posted another fall in profits on the day it launches a new newspaper.

The newspaper group posted profits of £67.2 million for 2015 - a fall of nearly £15m as revenues dropped 6.9%.

Trinity Mirror today (Monday) its new title, The New Day. It will cost just 25p for the first two weeks, before rising to 50p.

At a time when newspapers across the UK are seeing readership figures fall dramatically, Trinity Mirror chief executive Simon Fox said The New Day "fills a gap in the market for a daily newspaper designed to co-exist in a digital age".

Earlier this month, The Independent became the first national newspaper to move fully-digital.

Trinity Mirror also said it put aside nearly £30m to cover the cost of civil claims relating to the phone hacking scandal.

The company's shares rose 4.75% following the news, but over the year, they are still down 20%.