In an interim management statement released this morning, the publisher said between July and October, advertising revenue was down by 22.1% compared with the same period in 2008. This compares with a fall of 32.7% for the first half of the year.
The company said: "The greater stability in advertising revenues we referred to in the half year announcement has continued with the average weekly advertising revenues in September and October being at the same level as in May and June, with improvements in the property market offsetting a continued decline in recruitment related revenues."
Shares in the company were trading up 1.75 pence at the time of writing, worth 28.75 pence each, a rise of over 6% on yesterday's close.
Johnston Press said in October that it was closing two printing presses, one in Kilkenny and one in Edinburgh.
, to £218.6m, compared to the same period last year, with total ad revenue down 32.7%.
The results reveal ad revenue in print was down 33.5%, with classifieds hardest hit. Employment revenue was down 53.8%, property 54.2%, motors 29.3% and other classifieds 11.5%.
Speaking at the time, John Fry, chief executive, said he was pleased with how the company had performed, having achieved an operating margin of 17.5% across the period, and that it would maintain its focus on costs and would "look to secure additional operating efficiencies".
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