Johnston Press boasts £1m monthly earnings for i newspaper

 
Alys Key
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Dwindling Newspaper Sales Echo Through Economy
The newspaper's income has grown under Johnston

The i newspaper brought in £1m a month in September, October and November this year, its owner Johnston Press has revealed.

In an update, the media company said it had improved the performance of the newspaper since it was bought from Evening Standard parent ESI Media in April 2016.

Shares in the company rose two per cent to 12.75p this morning.

In the 11 months to November, revenue reached £27.5m.

In the last three months, underlying earnings reached £1m a month due to increased advertising share and sales revenue. Market share of main news advertisers has increased two per cent under Johnston Press's ownership.

The price of the paper increased to 60p from 40p under the new owners, with a weekend edition of 80p. Meanwhile circulation has stabilised at about 266,000.

Johnston Press chief executive Ashley Highfield praised the "clear and successful strategy" of the newspaper.

He said: "We will continue to innovate around this fantastic newspaper and build on its national appeal, in both print and digital - as we progress as a modern multi-media group.”

Highfield and his team have been facing down a possible boardroom coup in the last few months, as activist investor Christen Ager-Hanssen calls for the company's chair Camilla Rhodes to step down.

The company's update today was received positively by the market, with analysts at Liberum calling it "promising".

Read more: The mediascape is changing, and public relations must change with it

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