LONDON (Alliance News) - Johnston Press PLC on Wednesday said it expects to meet market expectations for the year as the decline in revenue seen in the first half slowed in the third quarter, though it said further restructuring will take place in the final quarter of the year.
The publishing group said its decline in revenue decelerated in the three months to the end of September, down 3.1% year-on-year compared to a 4.3% drop in the first half of the year.
Advertising revenues also fell slightly less in the quarter, down 3.4% compared to a 4.6% decline in the first half.
The group said it was boosted by an increase in digital revenue in the period, up 19.5% on the back of a growth in its total digital audience of 40% and a near-doubling of its mobile audience.
Circulation revenues in the quarter declined in line with trends, falling 4.7%.
Despite revenue falls slowing, Johnston said it would continue with its restructuring and efficiency initiatives in the final quarter, though it did not indicate what these plans would entail.
The company said it expects its full-year results to be in line with market expectations.
Johnston Press shares are untraded early Wednesday, last quoted at 3.66 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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