Johnston Press PLC Regulatory News (JPR)

Johnston Press plc

Interim Management Statement

9 May 2014

Johnston Press plc ("Johnston Press" or "the Group") today publishes its Interim Management Statement which has been drawn up for the 17 weeks to 26 April 2014, this being the last practicable date, as required by the UK Listing Authority's Disclosure and Transparency Rules.

Highlights for the period: 

· Continuing growth in digital revenues in line with the second half of 2013

· Slowing decline of print advertising revenues in an increasingly stable advertising market

· Circulation revenues continue to decline broadly in line with 2013

· Adjusted Group revenues for the period recorded a mid-single digit rate of decline year on year, showing an improving trend on the 2013 financial year

· Planned 2014 cost initiatives remain on track, with full benefits still to come through

· Capital refinancing plan to reduce net debt and provide a platform for future growth announced separately today

Operational Performance

The Group has continued to build on the good progress achieved in 2013, with continued strong growth in digital revenues, as well as a slowing decline in print advertising revenues compared to the equivalent period in 2013. As a result, adjusted Group revenues for the 17 weeks to April 2014 recorded a mid-single digit rate of decline over the same period last year.

The planned cost initiatives remain on track and a large proportion of 2014 restructuring costs have been taken in the period.

Online audiences have continued to grow and in March 2014 digital audiences grew to 15.9 million unique users, representing an annual increase of 42 per cent. The Group's mobile offering has also continued to grow and in the first quarter, average monthly unique users reached 6.4 million.

As previously announced, Jeff Moriarty, formerly VP of digital products at the Boston Globe joined the Group as Chief Digital and Product Officer in March 2014 with responsibility for the vision and development of the Group's digital strategy and its implementation.

New Product Launches

Digital remains key to the Group's future and continued investment in its digital strategy has underpinned key advertising revenue lines. The Group has launched two new products in its Employment category, namely The EngineerList and The AccountancyList to complement The Smartlist offering.

NewsEye has also launched online, offering users enhanced video content across a number of the Group's new websites. The Scotsman, Yorkshire Evening Post and The News (Portsmouth) are the first daily news brands in the Group's portfolio to introduce NewsEye - with a further roll-out planned.

Irish Business Disposal

On 1 April 2014, the Group entered into an agreement for the sale of Formpress, which held the trade and assets of its Republic of Ireland operations, to Iconic Newspapers Limited for £7.2 million in cash. For the 2013 financial year, the operating profit before exceptional items for the assets subject to the disposal amounted to £1.1 million.

Outlook

Although the economic outlook is not without challenges, the Group continues to see momentum in the business, underpinned by the re-structuring and re-focusing of the business and an increasingly stable advertising market. The Group remains focused on adapting the business to the changing environment in which the Group operates.

For further information please contact:

Ashley Highfield, Chief Executive Officer

Jane Muirhead, Group Head of PR

Johnston Press plc

0207 612 2616/ 07768 394487

Richard Oldworth/ Sophie McNulty/ Clare Akhurst

Buchanan

0207 466 5000

Investor & analyst call

A conference call for investors and analysts will be held at 8.00 a.m. BST, Friday 9 May 2014.

Please see the conference call dial in details below:

Number: +44(0)20 3427 1903

Participant Pin: 9238905

A replay of the call will be available on the Group website www.johnstonpress.co.uk as soon as possible following the call.

The announcement will be available at www.johnstonpress.co.uk