Cautious optimism was the keynote yesterday when one of the UK’s largest newspaper groups, Johnston Press, unveiled its first half results.

Profits before tax for the six months to June 30 rose by 14.3% to £40.2 million less a one-off restructuring charge. Like for like revenue growth was 3.2%, while the strongest ad growth sector was job recruitment, up 13%.

According to chief executive Tim Bowdler: “Despite the current mood of economic uncertainty, which makes it difficult to comment on longer term prospects, present indications suggest further progress should be made in the second half, resulting in 2001 being another satisfactory year.”

News source: Financial Times