Election hits advertising

YORKSHIRE POST owner Johnston Press said the General Election had subdued advertising spending in April and it expected no significant improvement until the third quarter.

By The Newsroom

Published 13th May 2010, 14:01 BST

Updated 13th May 2010, 14:02 BST

The group reported a 7.1 percent decline in like-for-like advertising revenue in the 18 weeks to May 8, after a 7.3 percent decline in the first nine weeks.

"We would expect the election's impact to continue through the second quarter and therefore not see any significant improvements in the current trend until Q3 2010," Johnston said in a statement yesterday.

Johnston said it should still meet market expectations for 2010 thanks to cost management.

Finance director Stuart Paterson said the company had no plans to close more of its hundreds of titles but said there would be further

reductions in headcount.

Shares closed down 8 per cent at 27.75p.

Yorkshire Post