Johnston Press sees its performance continuing in-line

10th Nov 2016 10:54

(ShareCast News) - Johnston Press sees its performance continuing in line with expectations as it focuses on cost cutting to mitigate revenue declines and impact of sterling's weakness on paper prices."Following the successful disposal of the Isle of Man titles in August, we continue to explore opportunities for further divestment, and will provide an update when appropriate," the company said in a trading update.It said total group revenues year-on-year for the 17-week period to 29 October were down 5.1%. Total group revenues year-on-year were 3.2% down in October, versus a fall of 9.9% in H1."We remain focused on cutting costs to mitigate revenue declines and the impact of sterling weakness on paper prices, and assuming no further deterioration in trading conditions, the Board expects performance to continue in line with expectations," the company said.At about 11:14 GMT, shares in Johnston Press were up 0.9% to 14p.