Johnston Press has announced that it is has seen “no discernible improvement” in advertising revenue as they announced a fall of 9.4 per cent in the five months up to 3 June.
The Edinburgh based owner of The Scotsman and Scotland on Sunday also stated that on a like-for-like basis, if acquisitions such as The Leinster Leader, Score Press, Local Press Limited and Scotsman Publication were included then revenue would have been down 8.4 per cent.
The company statement read: "Declines were experienced in employment, motors and display. All of these declines reflect the relatively difficult conditions being experienced in the relevant markets, higher unemployment and lower vacancies; lower car sales and dealer consolidation; weakness in consumer confidence and poor results from a number of high street retailers."
Tim Bowdler chief executive of Johnston Press said that there is no sign of any immediate improvement.
22 June 2006 - 11:48am | posted by Staff Writer
Johnston Press reports fall in advertising revenue
- Johnston Press chief 'confident' as revenue falls, profits rise and net debt drops by £125m in H1
- The Scotsman and Edinburgh Evening News to merge amid latest Johnston Press cuts
- Johnston Press reveals losses of £286.8m while advertising revenue dips by 6.4 per cent for 2013
- The Scotsman and Edinburgh Evening News merger branded ‘a great shock’ and ‘disastrous decision’ by NUJ
- Johnston Press CEO Ashley Highfield says staff morale has suffered amid cuts but journalists understand what the company is up against
- Johnston Press chief commercial officer steps down after 5 months
Featured by The Drum
Sign up to our Daily newsletter