Johnston Press PLC Regulatory News (JPR)

21 Jun 2006 07:00

Johnston Press PLC21 June 2006 For immediate Release 21 June 2006 Johnston Press plc PRE-CLOSE TRADING UPDATE Johnston Press issues the following trading update ahead of the announcement ofthe Group's interim results for the 26 weeks to 30 June 2006, scheduled for 31August 2006. Since our announcement on 8 March 2006, when we advised that like-for-likeadvertising revenues were down year-on-year by 10.5%, there has been nodiscernible improvement in market conditions. Due to weaker comparatives sincethen, the decline in advertising revenues on a like-for-like basis, excludingacquisitions, in the 5 months to 3 June 2006 was 9.4%. On a like-for-like basisif the acquisitions were included in both periods the decline would have been8.4%. Declines were experienced in employment, motors and display. All ofthese declines reflect the relatively difficult conditions being experienced inthe relevant markets, higher unemployment and lower vacancies; lower car salesand dealer consolidation; weakness in consumer confidence and poor results froma number of high street retailers. We are still experiencing growth in our property and other classified markets. Circulation revenues are ahead of last year and we continue to see good growthin all measures of our digital publishing activities. Contract printing revenues are down year-on-year on a like-for-like basis due tothe closures of the Halifax, Portsmouth Heatset and Scarborough presses.However, there will be increased contract printing associated with theacquisitions made in 2005 and early 2006. The major press developments inDinnington and Portsmouth are on schedule and budget and will bringopportunities for further printing efficiencies in the future. The integration of our recent acquisitions is progressing well and, aspreviously stated, we expect them to be earnings enhancing in the year. Theseacquisitions combined with our ongoing control of costs and improvedproductivity will help offset the impact of increased newsprint prices and thedifficult trading conditions. Contact: Tim Bowdler, Chief Executive orStuart Paterson, Chief Financial OfficerJohnston Press plc Tel: 0131 225 3361 Richard Oldworth/Suzanne BrocksBuchanan Communications Tel: 020 7466 5000 This information is provided by RNS The company news service from the London Stock Exchange