3 Feb 2016 12:10
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Don't have an account? Click here to register.Johnston Press recovers after tough post-Brexit vote period
Fri, 03rd Feb 2017 09:29
(ShareCast News) - Multimedia company Johnston Press, owner of brands like The Scotsman and The Yorkshire Post, has reported an improvement in trading in the fourth quarter after a 5% fall in revenue during the aftermath of the Brexit vote.The group recovered in the fourth quarter with a 1% rise in total revenues from the previous year driven by strong performance from the i and other key titles like The Yorkshire Post.Falling advertising revenues and print circulation has led to a 7% fall in advertising revenue in the third quarter and by 3% in the fourth quarter.The fall in the value of the pound has also hit the print industry hard as it increased the cost of imported paper and ink. The management's continued focus on costs has however enabled it to maintain an adjusted earning before interest, tax, depreciation and amortisation (EBITDA) of around 22%.In addition to the group's digital business3, both Media Sales Centre transactional revenues (telesales) and contract printing were each up 2% in 2016. The decline in circulation revenues in the existing portfolio has also been offset by strong i circulation revenues, resulting in growth in total circulation revenues up 11% year on year.Chief executive Ashley Highfield said: "Despite the challenging print market, including a very difficult summer prompted by Brexit-related uncertainties, we have seen some improvement in our markets during the fourth quarter."Whilst we expect the overall market environment to remain challenging for both the group and the industry as a whole, we remain focused on delivering on our strategic priorities of growing our overall audience, driving the further success of the i newspaper, delivering a more efficient editorial and sales operation and strengthening the balance sheet."The share price rose 8.32% to 17.06p at 1450 GMT on Friday.
More News
3 Feb 2016 09:31
Johnston Press rallies on pension deficit reduction
(ShareCast News) - Johnston Press said the findings of the study it carried out to assess the liabilities of its pension plan are expected to reduce the present value of the media group's plan by around £50m. In addition, the company said that following a change to the scheme rules agreed by the tru
Read more3 Feb 2016 08:51
BUZZ-Johnston Press: best day in 3 yrs on pension deficit reduction
** Shares in "The Scotsman" publisher Johnston Press up more than 15 pct pension deficit cut by >50% ** Co undertook pension study to streamline the pension scheme ** Now expects to reduce deficit by c50 mln stg (deficit on Jan 3 2015 was 90 mln stg) ** Liberum says this shrink
Read more19 Jan 2016 14:48
Johnston Press to sell titles as digital focus intensifies
(ShareCast News) - As well as confirming profits in line with forecasts, local newspaper publisher Johnston Press said it may sell several of its non-core titles in order to focus on digital growth. The company, whose titles range from dailies such as the Scotsman and the Yorkshire Post to around 19
Read more1 Dec 2015 14:52
Johnston Press reorganises with central editorial team
(ShareCast News) - Johnston Press has appointed an editor-in-chief and created two publishing director positions as part of the local newspapers group's editorial restructuring process to "shift focus away from traditional geographic reporting lines". Yorkshire Evening Post and Yorkshire Post editor
Read more19 Nov 2015 10:06
BUZZ-Johnston Press: hits life-low as print, publishing revenues drop
** Johnston Press's shares fall as much as 14.4 pct to a life-low of 45.39p as co reports fall in print and publishing revenues, for 17-week period, due to weak advertising markets ** Co says print advertising revenue falls nearly 15 pct and publishing revenue by about 11 pct for the 17 wee
Read more19 Nov 2015 09:26
7 Oct 2015 10:43
Johnston Press closes more titles as it looks to cut costs
(ShareCast News) - Media group Johnston Press announced the closure of several print titles as it looks to cut costs and focus on its online expansion. The company said a number of its smaller free print titles have been closed, which will allow it to focus resources on its digital offering in those
Read more14 Sep 2015 10:34
UPDATE 2-UK's Trinity Mirror in talks to buy rival Local World
(Adds Local World no comment, analyst, background and detail; also updates shares) Sept 14 (Reuters) - Britain's Trinity Mirror Plc, publisher of the Daily Mirror and Sunday Mirror newspapers, is in talks to buy rival Local World Holdings Ltd as it attempts to build scale to help counteract
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