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Johnston revenues growing

Revenues are growing at Johnston Press, despite a national advertising slump.

Circulation of the group’s weekly newspapers remains stable but the nine evening titles are currently showing small declines in a tough period for the industry as a whole.

But tight controls over costs have meant the company has continued to perform “satisfactorily” – despite an anticipated deterioration in trading conditions, exacerbated by the September 11 terrorist attacks.

The outlook for the year to December 31 is for profits to be at the top of the range of market estimates with continued emphasis on cost control helping off-set slower revenue growth.

Against this background, advertising revenue growth since July 1 has continued but at more modest levels, resulting in the five months to November 30 being 1.6 per cent ahead of the same period last year.

That compares with the 3.6 per cent growth in the first half, thanks to a 13 per cent rise in situations vacant advertising, which was better than had been expected.

In the second half to date, like-for-like situations vacant advertising growth has been pulled back to 1.4 per cent.

Like-for-like performance of the remaining advertising categories has remained very close to that achieved in the first half.

The group expects to publish its preliminary results announcement on March 20.

Its evening titles include the Peterborough Evening Telegraph, Northampton Chronicle & Echo, the Scarborough Evening News and Shields Gazette and Johnston has almost 200 weekly titles all over the country.

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