Johnston Press upbeat on advertising

Published on Thursday 21 June 2007 00:37

JOHNSTON Press gave an upbeat view of the advertising market in a trading statement yesterday, with the decline in advertising diminishing and a strong growth in online revenue.

The Edinburgh-based newspaper company, owner of The Scotsman, said revenue from all advertising fell 2.3 per cent in the five months to 2 June. This compared to a 2.9 per cent decline in the first nine weeks of the year. The board said it now expected results for the year to be "satisfactory". It added: "The revenue performance and outlook is consistent with that anticipated by the board at the start of the year and therefore we would expect a satisfactory outcome for the year as a whole."

The company said property remained the only category to show year-on-year growth, although the fall in jobs advertising was now lower, with some regions showing growth.

Digital revenues continue to be strong, rising, 34.7 per cent in the five months over last year.

Chief financial officer Stuart Paterson said the group would primarily invest and build its digital division organically but would also look at some acquisitions. He said digital made up about 3 per cent of revenues.

Johnston Press has signed a three-year deal with the Press Association to put its content, including videos, on JP's websites.

The company said circulation revenues from its 281 titles have climbed over last year.

Shares in Johnston Press ended down 3.5p at 421p.