Johnston Press plc announces full year results: earning up due to reduced costs
The publisher of The Scotsman and other UK newspapers today reported its 2014 full year results, reporting a sharp rise in before tax profits, due to reduced costs. Before tax profit increased 235.1 percent to £29.9m from £8.9m the previous year.
Revenues fell 4.4 percent to £265.9m, though digital rose 20 percent to £24.0m and now accounts for 17.4 percent of total advertising revenues.
“Following the refinancing we are seeing the business transform into a modern multimedia organisation,” Chief Executive, Ashley Highfield, said. “The strong growth in our digital audiences and accelerated growth of digital revenues, aided by the roll-out of Digital Kitbag and the launch of Sky Adsmart and 1XL are changing the shape of the Company. We are excited about the future for the business and confident of delivering on our strategic objectives of growing an engaged audience base and returning our business to top line growth”.