Johnston Press Gives Positive Outlook For 2001

Chairman Fred Johnston acknowledged the transatlantic economic slowdown and problems in the technology sector, but said that the current year had begun well. “There is still a North/South economic divide, particularly as far as advertising revenue is concerned, but our newspapers continue to do well in all parts of the country and our websites are attracting increased business,” he said.

Johnston now operates 74 newspaper-related websites and is hoping to reach break even on its internet investments at some point this year.

Like for like advertising revenue for the year was up 7% with recruitment the strongest category. “The omens for the first half of 2001 still look good,” said Johnston at a time when many other media groups are starting to feel the bite of an advertising slowdown.

Fred Johnston is due to step down from his position at the company’s AGM on 27 April, following 27 years as chairman. He will be succeeded by Roger Parry.

Shares in Johnston Press, which yesterday jumped 11p or just over 3%, have remained static so far today at 353½p.