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Drop in advertising revenues for Johnston

Johnston Press says it has experienced an increasingly difficult trading environment over the last six months, with advertising revenue particularly hit by the recent General Election.

The group, which publishes regional titles such as the Yorkshire Post, Blackpool Gazette, Portsmouth News and Hartlepool Mail, says like-for-like advertising revenue was up 1.4 per cent for March and April, compared to 2.6 per cent for the previous two months.

A trading update ahead of the group’s interim results for the 26 weeks to June 30 also showed the General Election has had an adverse effect.

Revenue from advertising for May was down by 4.7 per cent, with the drop mainly due to a fall in recruitment advertising and the absence of bookings from the Central Office of Information.

Meanwhile circulation revenue for the first 23 weeks of the year was flat, but, helped by a good performance in electronic publishing, other revenues grew by 13 per cent.

The group plans to announce its interim results on August 31 and says that, as it maintains a good control of its costs, it expects a satisfactory outcome for the year, despite a cautious outlook for advertising.