LONDON (Alliance News) - Local newspaper publisher Johnston Press PLC on Tuesday said its underlying earnings should meet market expectations for the full year, despite revenue declining.
The group said its underlying revenue, which strips out exceptional items, fell 7.0% in the 52 weeks to January 2. Digital revenue was up 12%, but this was more than offset by an 8.0% decline in publishing revenue and 12% fall in print advertising revenue.
Johnston Press said growing its digital audience remains its priority and said it intends making further cost cuts in 2016. It also will focus its growth efforts on its display advertising products and on markets where the local communities have more-than-average disposable income.
Circulation revenue was down 7.0% in the year, while contract printing revenue was flat, helped by the group winning the printing contracts for the Daily Express, Sunday Express and Daily Star.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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