Johnston Press posts 'solid' first-half results

Printing press Johnston Press is continuing its strategy of re-launching print titles and investing in new digital products

Related Stories

Newspaper and online publisher Johnston Press has reported a fall in revenues but a rise in profits for the first half of this year.

Revenue fell by 4.3% to £135.8m, while underlying operating profit stood at £28.3m, showing year-on-year growth of 3.6%.

The results were boosted by strong digital revenue growth, with digital advertising up by 23.4% to £14.1m.

Johnston Press said it had delivered a "solid" first-half performance.

The Edinburgh-based publisher runs more than 200 regional papers across the country, including titles such as The Scotsman and the Yorkshire Post.

Earlier this year it completed a capital refinancing plan, raising £225m through a bond issue and £140m through a placing and rights issue, in order to pay back historic debt.

'Growing strongly'

Chief Executive Ashley Highfield said the first half had seen continued progress on a strategy, launched in 2012, which included growing its overall audience through re-launching print titles and investing in new digital products across all platforms.

He said: "We are growing strongly in a number of categories, and reducing the decline in the rest, whilst continuing to bring down our cost base. As a result we are growing operating profits and margins.

"Also in the first half of 2014 we sold our Republic of Ireland business, comprising 12 titles."

He added: "The sale of our assets in the Republic of Ireland means we can focus our resources entirely on driving our business in the United Kingdom and Isle of Man, with particular emphasis on our digital initiatives.

"We are seeing continued growth in our total audience and in digital revenues and we believe this sale allows us to better capitalise on the opportunities in these markets.

"The economy is continuing to improve and the ripple-out effect from London and the South East is beginning to show in the numbers in Scotland, Yorkshire and Northern Ireland."

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Scotland business stories



  • Aster the dog in trainingMeet Aster

    The first Hearing Dog to be trained entirely in Scotland

  • Burning roubleWho pays?

    The knock-on effects of Russia's economic troubles

  • Save our library signCouncil cuts

    How is your local authority affected?

  • A Pakistani army soldier looks at a plaque listing the best sports students at the site of the militants' attack on the army-run school in Peshawar on 18 December 2014Watershed hope

    Has the real war on terror finally started in Pakistan?

  • Mary TuckerChristmas workers

    Those who plan to spend the day working rather than celebrating

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.