Little cheer for investors in Johnston Press in this morning's figures for the past twelve months. JP owns the i newspaper, The Scotsman, The Yorkshire Post and around 200 local papers. Total advertising revenue — including print and digital — fell 18.3 per cent from £122.6m in 2016 to £100.2m in 2017. The company has debts just over £195m.
The outlook ? "We expect to see continued pressure on revenues, and the requirement for cost savings. Against this difficult backdrop we are focused on maintaining our strong margins, driving additional growth from i and realising further operational and financial synergies. During 2018 we will continue to selectively invest in the business, with a focus on digital, journalists, and content generation."
JP shares opened at around 9p, up from last night's 8.8p.
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