Johnston Press revenues nudge up, warns over 'challenging' market
(ShareCast News) - Newspaper publisher Johnston Press posted a 0.2% rise in total revenues for the 17-week period to the end of April as it noted that trading conditions for regional newspapers remain challenging.
Excluding sales of the i newspaper, which continues to perform well, total revenues were down 12%. Sales volumes for the i were up 4% in the 12 months since its acquisition, with circulation revenues up 23% and average website unique users 12% higher from February to March.
Digital advertising revenues were up 10%, or 3% higher including classifieds. Meanwhile, on-network digital audiences were up 11% to 26m, with average page views up 17%.
Circulation volumes of The Scotsman and Yorkshire Post continued to improve, while other large dailies such as the Sheffield Star, Evening Post and the Edinburgh News also saw some improvement.
"The board notes that trading conditions for regional newspapers in the UK remain challenging and, while encouraged by improving trends across the group, the management team continues to take actions to manage its costs tightly."
At 1000 BST, the shares were up 6.8% to 15.75p.