Revenues And Profits Strong At Johnston Press

Regional and local newspaper group, Johnston Press, has this morning posted a strong set of financial results for the year ending 31 December 1999 and is set to make significant internet investments over the coming year. Pre-tax profit at Johnston grew by 8.6% to £49.8 million and advertising revenues were up 5% on 1998.

Johnston is expected to invest around £10 million in its new media developments over the coming year, more than four times the company’s investment last year. The group already has a network of 50 local websites running alongside its newspaper portfolio of more than 185 titles. Johnston, the UK’s fourth largest regional publisher, has also requested permission to bid for Southampton-based regional publisher, NEWSCOM (see Johnston Press Joins Bidding Race For Newscom).

Johnston has also announced today that Roger Parry, CEO of Clear Channel International, will become non-executive chairman of the group in April next year when Fred Johnston takes his retirement. Parry, who is currently a non-executive director at Johnston, will be the first chairman at the company to come from outside the Johnston family.

Johnston Press: 0131 225 3361