15th Jun 2005 07:00
Johnston Press PLC15 June 2005 Johnston Press plc Press Announcement 15 June 2005 PRE-CLOSE TRADING UPDATE Johnston Press issues the following trading update ahead of the announcement ofthe Group's interim results for the 26 weeks to 30 June 2005, scheduled for 31August 2005. Since our announcement on 16 March 2005, when we advised that like-for-likeadvertising revenue was up 2.6% in the first two months of the year, the tradingenvironment has become more difficult with cumulative growth on the same basisto the end of April of 1.4%. May suffered the traditional adverse impact of theGeneral Election and was down by 4.7%. The reduction was primarily due to a fallin recruitment advertising and the absence of bookings from the Central Officeof Information. However, the financial results will show a better cumulativeperformance than the like-for-like because what would have been the poor firstweek of 2005 was actually included as the 53rd week of 2004. Consequently actualadvertising revenue growth for the first 23 weeks of 2005 was 1.5% ahead of theequivalent period in 2004. For the same period circulation revenue was flat and, driven by good progress inelectronic publishing, other revenues delivered strong growth, up 13%. Asexpected, third party print revenues have been reduced by the planned closure ofthe Portsmouth heatset press. The second 15 year print contract with NewsInternational at our Portsmouth facility has now become unconditional asplanning permission was granted on 25 May 2005. The Group continues to maintain good control of its costs and steps have beentaken to mitigate the increase in newsprint prices. The Board therefore expectsa satisfactory outcome for the year, despite a cautious outlook for advertising. Contact: Tim Bowdler, Chief Executive orStuart Paterson, Finance DirectorJohnston Press plc Tel: 0131 225 3361 Richard Oldworth/Suzanne BrocksBuchanan Communications Tel: 020 7466 5000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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