Thursday 25 May 2017

Johnston Press sees lower FY profit as advertisers spent less during polls

British Prime Minister David Cameron speaks during a final media conference after the EU summit in Brussels. Photo: AP
British Prime Minister David Cameron speaks during a final media conference after the EU summit in Brussels. Photo: AP

Johnston Press Plc, publisher of "The Scotsman" and "The Yorkshire Post", said it expected its full-year profit to be slightly below market expectations, after advertisers tightened their purse strings during the elections.

Edinburgh-based Johnston Press said its first-half profit would be marginally lower, coupled with a 5 percent fall in revenue for the 26 weeks ended July 4.

First-half advertising revenue is expected to fall 5 percent, with a 5.5 percent fall in circulation revenue.

Around the time of the election, a number of national and local advertisers chose to reduce or delay their spend in both print and online, the company said.

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