Wednesday 25 April 2018

Revenue at the i newspaper up 17pc in three months

Ellie Donnelly

Ellie Donnelly

Revenue at the UK-published i newspaper increased 17pc in three months to 30 November.

The increase in revenues was driven by a 14pc year-on-year increase in print advertising.

Earnings at the paper, which is part of the Johnston Press group, averaged £1m per month in September, October, and November, while revenues at the paper for the 11 months to 30 November were £27.5m.

Johnston Press purchased the title for £24m in April 2016 from The UK Independent, part of ESI Media.

Prior to acquisition, the i newspaper delivered annual earnings before interest, taxation, depreciation, and amortisation of £5.2m on revenues of £26.1m for the year ended 27 September 2015.

The group said that there had been significant investment in the editorial team and steps had been taken to maximise the value and appeal of the brand to both print and digital audiences.

In a statement today Johnston Press said that the group as a whole continued to make good progress with its strategic initiatives and, while trading conditions remain very challenging, the board of Johnston Press remained confident that trading for the full year would be in line with its expectations.

"The i newspaper is a unique offering...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," Ashley Highfield, CEO of Johnston Press, said.

Other publications owned by the Johnston Press include Belfast News, The Scotsman, and the Derry Journal.

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