Scottish newspaper and media group, Johnston Press, has announced a slow down in advertising losses for the first five months to 2 June.
The group behind dozens of regional titles, including the
Stamford Mercury (which is more than 300 years old), has forecast a “satisfactory outcome” to the year after the relatively strong start.
The publisher expects ad revenue to June to have dropped 2.3% in its forthcoming trading statement, compared to 9.4% during the same period last year.
Digital revenues were up 35%, but still only make up 3% of overall revenues.
Advertising revenues in the Republic of Ireland grew by 10.5% during the same period.
While still dropping, the slow down in losses within the year has been widely welcomed by the group.
Tim Bowdler, chief executive of Johnston Press, said: “Property remains the only print category of advertising to grow year on year, however the overall decline in employment is now significantly lower with some regions seeing growth.
“The revenue performance and outlook is consistent with that anticipated by the Board at the start of the year and therefore we would expect a satisfactory outcome for the year as a whole.”
Advertising equates for 75% of the group’s total revenues.
In April, Johnston Press completed its acquisition of Archant’s Scottish newspaper division for £11.2 million. The buyout included eight weekly publications in Scotland, which generated some £7 million in 2006 (see Johnston Press Completes Purchase Of Archant’s Scottish Titles).
In March the publisher’s pre-tax profits were down 6% to £146.7 million (see Johnston Press Sees Profits Fall).
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