Johnston Press pre-tax profit hurt by lower classifieds
Published 04/08/2016 | 08:29
Johnston Press, the publisher of the Scotsman and the Yorkshire Post, reported a 27pc fall in adjusted profit before tax as lower employment, property and motor classifieds hurt its earnings.
The 190-year-old publication firm's adjusted pretax profit fell to £12.3m in the 26 weeks ended July 2, while revenue fell 9.7pc to £113.9m.
The company also said it was too early to assess how Britain's decision to leave the European Union would affect its revenues.
Johnston Press said its revenue declined despite a hike in readership over Brexit and higher circulation from its acquisition of the i newspaper.