There was more evidence of the effects of the double-dip recession yesterday as Newsquest reported advertising revenue down 5.2 per cent year on year in the second quarter of 2012.
The figures were released in the second quarter results of US parent company Gannett which only a give a partial view of the performance of the UK subsidiary.
At Newsquest, retail advertising was said to be down 4.1 per cent year on year while classified advertising was down 7.1 per cent. National advertising was up 2.6 per cent.
Digital revenue for Newsquest was however said to be up by 10.1 per cent year on year as was overall profitability, thanks to the impact of cost cutting.
According to Gannett, Newsquest’s network of websites attracted some 10.1 million unique users in June 2012.
Newsquest is the UK’s second biggest regional newspaper publishers with 186 titles and a combined weekly circulation of just under 6 million copies.