Johnston Press is expecting to continue to buck the downward economic trend and is predicting a successful year after revealing increased half-year profits.

The company has announced a 14.3 per cent increase in profits before exceptional items, thanks in part to an increase in advertising revenue. There was a growth of 3.2 per cent in advertising revenue as a whole and a 9.7 per cent increase in job advertising revenue.

The £40.2m profit announced compares with £35.2m last year.

Johnston says it is also taking measures to accommodate any pressure on revenues in the next few months.

Chief executive Tim Bowdler said: “We have made a satisfactory start to the second half with continued modest revenue growth and costs remaining under close control.

“Given the uncertain market outlook and the clear evidence of a slowdown in the economy as a whole, we have taken steps to ensure that our businesses are in good shape to accommodate any downward pressure on revenues.

“As publishers of the market leading titles in numerous and widespread local communities around the UK we believe that we are strongly placed.

“Despite the current mood of economic uncertainty, which makes it difficult to comment on longer term prospects, present indications suggest that further progress should be made in the second half, resulting in 2001 being another satisfactory year.”

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