Wednesday 21 February 2018

Johnston Press pre-tax profit hurt by lower classifieds

(Stock photo)
(Stock photo)

Sanjeeban Sarkar

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.

Reuters

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