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BRIEF-Johnston Press says revenue for 52-wks to Dec.31 down 6 pct
February 3, 2017 / 7:21 AM / 7 months ago

BRIEF-Johnston Press says revenue for 52-wks to Dec.31 down 6 pct

Feb 3 (Reuters) - Johnston Press Plc :

* Trading statement

* Confirms that trading for 52 weeks to 31 December 2016 (subject to audit) has been broadly in line with board's expectations

* Total revenues 1 (after benefit of i newspaper) were down 6 pct.

* After a period of difficult trading in summer prompted by brexit-related uncertainty, trading improved in q4 as a result of both strategic initiatives implemented during h1 2016 and signs of improving business confidence. Q4 total revenues 1 were up 1 pct compared to equivalent quarter

* Q4 total revenues 1 were up 1 pct compared to equivalent quarter last year, driven by a strong performance from i as well as other key titles such as yorkshire post

* This compares to a 5 pct decline in q3, in immediate aftermath of brexit vote.

* News publishing market continues to suffer from severe headwinds of falling advertising revenues (particularly classified advertising) and print circulation

* Total advertising revenue (excluding classifieds) 2 fell 7 pct in q3 compared to equivalent quarter last year, improving to down 3 pct in q4

* Excluding i, total advertising revenue (excluding classifieds) declined 9.7 pct for year, having declined 12 pct in q3, while improving to a 7 pct decline in q4 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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