Johnston Press has reported a £300m pre-tax loss in 2016, knocked by a 17.7% decline in statutory total advertising revenues across the group and a write-down in the value of its newspaper titles.
The regional publisher, which owns 200 local UK papers, including the Scotsman and the Yorkshire Post, wrote down the value of its publishing and print assets by £344m.
As such, it turned a £2.2m pre-tax profit in 2015 into a £300m loss last year.
Revenue slid by 8% to £222.7m for the 12 months to the end of December 2016. Total ad revenues fell 17.7% according to its Read full story ›
Source: The Drum
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