Trinity Mirror has reduced its net debt by £20m recent months it has revealed in an interim management statement for the third quarter of 2011.

The newspaper publisher has revealed that its net debt has fallen to £242m since July as it continues to implement its cost saving target of £25m for the year.

The company also said that it had seen ‘significant improvement’ in its circulation volumes and revenue performance for its Sunday titles such as The Sunday Mirror, since the closure of the News of the World.

The Sunday Mirror grew volume by 61%, The People by 58% and the Sunday Mail by 5%, with no cover increases introduced during that period.

The board has also said that it expects increased circulation volumes and revenues for its Sunday titles to help deliver its performance ‘marginally ahead’ of its expectations, as advertising revenue increased during the third quarter of the year by 8% and circulation revenue by 7% on the same period in 2010.

However, circulation within the regional division S&UN fell by 3% during the same period, while advertising revenue fell by 7% and display by 3%. Classified also decreased by 10% and recruitment advertising by 9%, although digital recruitment was said to have risen with digital revenue up by 3% in total.

Property, motors and other classified revenue fell by 8%, 16% and 11% respectively, with other revenue down by 2%.

The national titles saw an increase in revenue by 10% in total.