Johnston Press Revenues Resilient In Challenging Market

Ad revenues at regional newspaper publishing group, Johnston Press, are performing strongly in ‘challenging market conditions’, with Q3/Q4 growth expected to be 1-2%, according to Merrill Lynch analysts.

The broker is expecting a full year growth of about 2%. Johnston’s management is budgeting for a 2-3% growth next year, in line with analysts’ forecasts, but well below the Advertising Association’s regional press sector forecast of 4.4%.

Merrill says that recruitment advertising remains weak in the south, albeit with an improving trend, but is holding steady in the north. Property and display advertising remain solid and slight circulation decline trends remain unchanged.

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