Johnston Press loses £250m

Oliver Smith
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REGIONAL newspaper publisher Johnston Press yesterday reported a pre-tax loss of £248.7m for the first half of the year.

The publisher put the loss down to a £194.5m non-cash impairment charge on the value of its newspapers and a £57.9m write-down on the value of its printing assets. Revenues in the first six months of the year fell to £159.9m from £206.1m in 2012.

In April the group relaunched some of its titles and increased its digital operations and yesterday reported digital revenues up 13 per cent to £11.6m.