Johnston Press Reports Pre-Tax Profit Up 20%

Johnston Press has released financial results for the year ended 31 December 2000 which show profit before tax up 20.9% at £66.5m. Operating profit was up by 27.3% from £65.9m in 1999 to £83.9m.

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. Like for like advertising revenue for the year was up 7% with the strongest category being recruitment.

Johnston is due to step down from his position at the 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 £3.53½.

Johnston Press: 0131 225 3361 www.johnstonpress.co.uk

UK media shares are monitored and listed daily in MediaTel Newsline’s Sharewatch