Johnston Press sees improving ad trends

Johnston Press, which publishes local and regional newspapers including the Scotsman and the Yorkshire Post, said trends in the advertising market were continuing to improve following a sharp downturn.In the last 10 weeks advertising revenues were down by 19.1%, meaning that the first 18 weeks of the second half of the year saw a total advertising decline of 22.1%. This compares with a fall of 32.7% in the first half.Johnston said average weekly advertising revenues in September and October were the same as those in May and June, with improvements in the property market offsetting a continued decline in recruitment-related revenues.The firm said it closed down two printing operations, one in Kilkenny in Ireland and the other in Edinburgh.'Given the greater stability in advertising revenues, combined with reducing declines in circulation revenues and continued progress with cost savings, the group is confident of delivering an operating profit in line with current market expectations for 2009,' said Johnston.