Rolling news updates including links to the best journalism news and comment from around the web

Report: Johnston titles return to profit in Ireland

Johnston Press’s newspaper operations in Ireland returned to profit last year after cutting costs by €4m.

The Irish Post reports this morning that the company saw pre-tax profits of €1.7m despite sales falling 16 per cent to €19.4m.

The Post said the return to profit “was due to the removal of €4m in costs and the non-reoccurrence of exceptional costs of €5.4m in 2010 that arose from restructuring, impairment costs and an empty property provision”.

Digital revenue rose by 34 per cent year on year but still represents just 1.5pc, or €308,000, of total revenue in Ireland.

The figures also show how Johnston made €329,000 from the sale of press equipment following the closure of its Limerick print press, which was offset by €125,000 in redundancy costs.

Overall staff costs were cut from €8.9m from €11.6m. Johnston’s titles in Ireland include the Limerick Leader, the Kilkenny People, the Leinster Leader and the Longford Leader.

Sign up for our free weekly digital magazine, Press Gazette Journalism Weekly, and daily newsletter
To contact Press Gazette with a story call 0207 936 6433
or email pged@pressgazette.co.uk
To advertise, please call 0207 936 6764.