Advertising revenues rose by 2% in the first five months of the year at regional newspaper publisher, Johnston Press, the group said in a trading statement this morning.
The figures show the resilience of local advertising revenues during a period of economic uncertainty, says Johnston; national revenue has been hit much harder than local during the advertising downturn. Property and display advertising have been the main drivers of year-on-year growth, said the statement.
Johnston says that the integration of Regional Independent Media (RIM), acquired earlier in the year, is going as planned (see Johnston Press Acquires RIM Newspaper Business). Exceptional costs of £3 million at the half year point are anticipated, reflecting the cost of reorganisation.
Despite the continued economic uncertainty, the Board of Johnston Press says that it anticipates modest revenue growth this year.
