Johnston Press has announced a 4.8% decline in profits in the half year to June 30.
The regional newspaper group, which publishes titles including the
Yorkshire Post and the
Scotsman, said that its operating profit fell to £96.7 million, whilst revenue was up 0.1% at £312.8 million.
Revenue from UK newspaper sales increased by 0.5%, with Johnston Press saying that this was driven by selective cover price increases that compensated for reduced circulations.
Tim Bowdler, chief executive, said: “The month of July has seen a continuation of the improving month-on-month advertising trends in the UK,” chief executive Tim Bowdler said in a statement.
“Costs remain under good control and new publishing initiatives, especially in the digital area, continue to produce strong growth, albeit from a small base. We anticipate a satisfactory outcome for the year as a whole.”
In April, Johnston Press completed the acquisition of Archant’s Scottish newspaper division for £11.2 million (see Johnston Press Completes Purchase Of Archant’s Scottish Titles).
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