** Johnston Press, publisher of "The Scotsman" and"The Yorkshire Post", falls to in lowest in almost 3 yrs afterco warns on lower FY profit
** Co says Q2 hurt by a number of national and localadvertisers choosing to reduce or delay their spend in bothprint and online during general election
** Stock falls 13.2 pct, making it one of the biggestpercentage losers on the London Stock Exchange
** Johnston Press worst performer on the FTSE All ShareMedia Index and the FTSE All Share Index
** Britain's newspaper industry has been hammered in recentyears by the move online of both readers and advertisers
** Trinity Mirror said last month that it woulddouble its cost-cutting target for the year to protect profit asweak print advertising chips away at revenue
** "With leverage (3.1x EBITDA) now likely to take longer tomove down, we no longer forecast any dividend payments withinthe forecast period," Panmure Gordon analyst Jonathan Helliwellwrote in a note
** As part of a refinancing plan to return to revenuegrowth, Johnston Press, which has not declared a dividend tosince 2007, cannot pay back shareholders until the ratio of netdebt to EBITDA falls below 2.5 times (Reuters Messaging:noor.hussain.thomsonreuters.com@reuters.net)
