Johnston Press profits down 6%

by Olivia Solon, Media Week 07-Mar-07, 12:40

LONDON- Johnston Press has reported that pre-tax profits of £147 million - 6% down on 2005.

Chairman Steve Parry blamed the weak ad-market, especially in the recruitment sector, which has been hit by local government spending cuts.

Total revenues were up 16% on 2005 to £602 million, due to acquisitions including Scotsman Publications Ltd in early 2006.

Johnston Press spent much of the year developing its websites which helped raise digital revenues by 36% to £11.3 million. Unique users increased by 63% and page impressions by 53%.

The company also invested £60 million in new printing facilities and launched 150 new publications.

The pilot project of a fully integrated digital newsroom trialled in Preston is to be rolled out throughout the rest of the country in 2007. Parry said: "This approach will enable us to offer our audiences a continuous news service through a combination of digital and print channels 24 hours a day with audio-visual content as well as text and pictures."