Ad sales up 6% at Johnston

LOCAL newspaper publisher Johnston Press says trading is 'ahead of expectations' with strong growth in recruitment advertising.

The group, which is one of the 'big four' regional publishers with 241 titles and a 14.4% market share, said advertising revenues for the 23 weeks to 30 June were up 5.8% on a year earlier.

The company said the strongest growth was in classified jobs 'reflecting the improved business climate in the south of the country'. Business from national advertisers was also said to be particularly strong.

The company expects continued growth of advertising revenues in the second half.

Circulation of the group's weekly titles continued the trend of the last seven years and achieved a further increase. However, daily titles showed a 'modest' decline.

The group will report half-year results on 25 August.

In it last full-year results in March, pre-tax profits soared by 38% to £128m on turnover up by 15% at £492m. Earnings rose 21% to 32.3p a share and the dividend was hiked 11% to 10p.