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Ashley Highfield Johnston Press

Issues profit warning as advertisers cut spending

14 Jul, 2015

Johnston Press reports that full-year profits would be down by around 5.5% and half year profits by around 5% after it saw a fall in advertising revenues and circulation sales in the 26 weeks to 4 July 2015. The company said advertisers chose to hold off and slash spending across print and online amid the uncertainty caused by the election. The share price falls by more than 16%. CEO Highfield:

Trading conditions in the first half of 2015 have undoubtedly been challenging, especially in the period around the general election – a time when there was also a high degree of uncertainty in the wider market.