Business News

Johnston Press: INTERIM RESULTS FOR THE 26 WEEKS ENDED 30 JUNE 2009

Friday 28. August 2009 - Johnston Press plc, one of the leading community media groups in the UK and Ireland, announces interim results for the 26 weeks ended 30 June 2009.

KEY FINANCIALS
Before non-recurring items and IAS 21/39 After non-recurring items and IAS21/39
2009 2008 2009 2008
26 Weeks 26 Weeks Change 26 Weeks 26 Weeks Change
£m £m % £m £m %
Revenue 218.6 293.1 -25.4 218.6 293.1 -25.4
Operating profit/(loss) 38.2 81.6 -53.2 (93.6) (34.5) n/a
Profit/(loss) before tax 27.5 62.5 -56.1 (94.2) (53.7) n/a
Earnings per share 3.15p 10.59p -70.3 (10.57)p (15.13)p n/a
? New finance facilities in place to cover next 3 years
? Total revenues of £218.6m down 25.4% on the same period in the prior year
? Total advertising revenues down 32.7% on same period in prior year
? Operating profit (pre non-recurring and IAS21/39) of £38.2m representing an operating margin of
17.5%
? Total costs (excluding non-recurring items) down £31.0m (15%) on the same period last year
? £126.0m pre-tax impairment charge against intangibles
? Net debt reduced by £52.8m since start of year
? Advertising revenues stabilising first 8 weeks of 2nd half are 26.1% down year-on-year
OUTLOOK
Chief Executive Officer, John Fry said
“The timing of the economic upturn remains uncertain but advertising revenues are demonstrating greater
stability and we expect the cyclical improvement when it comes to more than compensate any ongoing
structural change. We will maintain our focus on costs and look to secure additional operating efficiencies
during the second half of the year.”