Sly Bailey, a colleague of the Trinity Mirror chief executive once said, 'lives for the share price'. In which case, she must be in agony. This week, after a profit warning, the publisher of the Daily Mirror, Sunday Mirror and The People and a host of regional titles saw £100 million wiped off its market cap, sending its value down to £280m from £1.3bn a year ago. Profits, said Bailey, would be 10% lower than expected because of a 'marked' decline in advertising revenues in May and June.