Johnston Press ad revenues continue downward path

Johnston Press has reported a 5.4% like-for-like drop in advertising revenues for the second half of the year to date, saying public sector advertising has been "particularly difficult".

Johnston Press: continues to make cost savings
Johnston Press: continues to make cost savings
The regional newspaper group behind Yorkshire Post and The Scotsman said the decline in advertising was levelling out from the 6.3% decline in the first half.

Print recruitment advertising was worst affected during the latest period, down 29.1%. The decline in print advertising excluding recruitment was 2.5%.

The company stated that public sector sourced advertising in the last 18 weeks had been particularly difficult, but its digital employment offering was continuing to gain market share in the regions where it operated.

Johnston Press is continuing to make cost savings to mitigate the revenue falls, and today announced its printing operation in Limerick in the Republic of Ireland would be closed. This will result in an exceptional cost in the region of £5m.

Net debt has been reduced by £13m over the second half to date, to £388m.

The update leaves the group on course for its third straight year of revenue declines since 2007, when it generated turnover of £607.5m.

The group recently appointed Henry Faure Walker as digital and business development director, and Steve Brown as divisional managing director North.

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