Johnston warns over profits

The owner of The Yorkshire Post has warned over a hit to profits after advertisers delayed and cut spending around May’s general election.

Johnston Press said half-year and full-year profits would be knocked after seeing advertising revenues and circulation sales fall in the 26 weeks to July 4 – down by around 5 per cent and 5.5 per cent respectively. The Edinburgh-based group said advertisers chose to hold off and slash spending across print and online amid the election uncertainty.

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Johnston took action to limit the impact, but said half-year profits were still expected to come in below a year earlier.