Johnston Press profits as i newspaper advertising share rises
The market-beating performance of the i newspaper has continued under the stewardship of Johnston Press with average monthly profits now at £1m between September and November 2017.
Johnston Press celebrate as ‘I’ newspaper hits £1m monthly profit
Profits have been fueled by an increase in margins from 20 to 30% post-acquisition coupled with a year-on-year increase in advertising market share, cost savings and an increase in circulation of the Saturday edition of 12,000 since being relaunched in September.
This has helped propel print advertising northwards by 14% year-on-year while circulation of the daily holds steady at 266,000 – despite an increase in the cover price from 20p to 40p.
Ashley Highfield, chief executive of Johnston Press, commented: “The i newspaper is a unique offering: quality impartial journalism in a concise format with an eye to value for money. It’s broadening appeal amongst both readers and advertisers since Johnston Press acquired the title is testament to its quality and trusted content, alongside a clear and successful strategy. We will continue to innovate around this fantastic newspaper and build on its national appeal, in both print and digital - as we progress as a modern multi-media group.”
Johnston Press is hailing the figures as justification for its purchase of the title for £26m from the Independent in April 2016, in which time the title has been given a Brexit focus and enjoyed a significant expansion of its editorial team.
Johnston Press has been generating headlines of its own of late amidst manouvres to install Alex Salmond as chairman.