Regional newspaper publisher Johnston Press has this morning released a pre-close trading update which boasted profits in the ‘top range of market estimates’ and a growth in ad revenue of 1.6%, compared to to the same period 2000.
The group said that circulation remains ‘stable’ overall although nine evening titles are currently showing small declines. New media investments will make a ‘modest contribution’ to the groups full year results.
Despite impressive growth in tough conditions, the group emphasises that cost control measures will remain in order to offset slower revenue growth. Johnston says that it is confident going into 2002 and believes that the company’s performance will be satisfactory with closely managed revenues and costs as well as the anticipated reduction in newsprint costs.