Johnston bucks advertising trend

ADVERTISING revenues continue to grow, albeit more slowly, at local newspaper publisher Johnston Press and it expects profits to be at the top end of market forecasts.

In stark contrast to Trinity Mirror which on Monday said local newspaper ad revenues had fallen by more than 2% in October, November and probably in December, Johnston said revenues in the five months to November rose by 1.6%, compared with 3.6% in its first half.

Situations vacant, which account for just over a quarter of Johnston's revenues, grew by 13% in the first half but only 1.4% in the past five months.

Analysts' forecasts for pre-tax profits in the year to end-December range from £69m to £73m against £65.5m last year.

Johnston said the circulations of its weekly titles had remained stable during the last five months but its nine evening titles were showing slight declines. It also said that its web-based activities would make a modest positive contribution in the current year.