Shares in Johnston Press jumped five per cent this morning as the troubled newspaper publisher announced a new multi-million pound printing contract.
Johnston Press has entered an agreement with Associated Newspapers to publish the Monday-Saturday editions of the Daily Mail at its Portsmouth site.
The deal, which will see Johnston Press print all south west copies of the Daily Mail, comes after Associated Newspapers closed its print site in Didcot.
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Johnston Press described the deal as a “multi-million pound contract” spanning five years, with Associated Newspapers having the option to extend it for another five years.
Johnston Press-owned Portsmouth Web also won a contract to print the Metro newspaper, also owned by Associated, in October last year.
The regional publisher also prints the daily and Sunday editions of the Express and Star newspapers, as well as the Guardian and Observer in Northern Ireland.
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Johnston Press chief executive Ashley Highfield, who has come under pressure this month from activist investor Crystal Amber, said:
We are delighted to win this new business on top of the Metro contract just recently won and this further confirms our printing services division as one of the best in the country. This latest long term contract will give the staff a real boost and their ability to deliver such prestigious titles against very tough competition is a great reflection on the business.