Johnston Press predicts Q3 ad revenue growth

Johnston Press has reported a 7.1% year on year fall in advertising revenues for the 18 weeks to 8 May 2010.

Within this, digital revenues were up 12.3% over the period, with overall advertising expected to return to growth in the third quarter.

The regional newspaper publisher expects to make total year on year cost savings in 2010 of at least £15 million, an increase from the previously advised £10 million.

Net debt at the end of April 2010 was £419.1 million, down £3 million from the start of the year.

It added that despite the slightly softer advertising performance anticipated in the second quarter, it expects its continued management of costs to produce full year results in line with current market expectations.