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Johnston Press CEO 'excited by future' as

Scotsman owner sees further annual loss and decline in revenue

Scotsman titleJohnston Press, owner of The Scotsman titles, the Falkirk Herald and the Yorkshire Post, posted another loss for the year, but saw its underlying operations improve.

The London-based company reduced its pre-tax loss from £291.4 million to £23.9m and cut its debt from £302m to £184.6m.

Group revenue continued to slide, down a further 7.3% from £290m to £268.8m, although total underlying revenue of £265.9m declined 4.4% for the period, reducing the rate of decline from 5.2% in 2013 and 7.4% in 2012.

Total advertising revenue was down 4.7% to £165.7m, print advertising declined 8.7% to £136.9m while digital revenues were up 20%.

The employment category led the way with revenue growth of 3.4%, becoming the first to reach the overall digital tipping point.  Newspaper sales revenue was down 4.8% from £81.8m to £77.9m.

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