The warning came as the publisher of titles such as the Yorkshire Post reported a 6.3% slowdown in 2007 pre-tax profits to £137.4m. Revenues, meanwhile, nudged up 0.9% to £607.5m last year.
The group reported that UK advertising in the early weeks of 2008 was down by 4.2%, compared with the same period in 2007.
Johnston Press chairman Roger Parry said: "In the early weeks of 2008, print advertising revenues were down on the same period in 2007, and have been volatile from week to week."
Parry added that a continued lack of confidence in the economic markets suggests that the press ad market will remain challenging.
The company's depressing outlook is further evidence of an expected tough UK press advertising market in 2008. Last month, both Trinity Mirror and DMGT warned that the slowdown in the UK economy would be likely to hit press ad spending.
Johnston Press said that the rate of decline in print ad revenues slowed during 2007, helped by strong growth in digital revenues, which grew by 34% to £15.1m.
The group reported that UK advertising in the early weeks of 2008 was down by 4.2%, compared with the same period in 2007.
Johnston Press chairman Roger Parry said: "In the early weeks of 2008, print advertising revenues were down on the same period in 2007, and have been volatile from week to week."
Parry added that a continued lack of confidence in the economic markets suggests that the press ad market will remain challenging.
The company's depressing outlook is further evidence of an expected tough UK press advertising market in 2008. Last month, both Trinity Mirror and DMGT warned that the slowdown in the UK economy would be likely to hit press ad spending.
Johnston Press said that the rate of decline in print ad revenues slowed during 2007, helped by strong growth in digital revenues, which grew by 34% to £15.1m.
.jpg)
.jpg)