The good news for Johnston Press is that it made an operative profit last year of GBP54.3m. The bad news is it was more than wiped out by write-downs on the value of its titles (GBP202m) and printing
facilities (GBP60m), leading to a GBP287m loss. The other piece of good news was that digital display was up 44% -- but it only accounts for 7% of overall ad revenue, which as a whole fell by 10% and,
in print, was down 13.3%. The only silver lining here was that the overall 10% fall was a slower decline than the 12.7% dip of the year before. The company claims the figures show it is no
longer on the path to "oblivion" and that digital growth will being to outweigh the decline in print revenues.
Read the whole story at The Guardian »