SHARES in Johnston Press, publisher of the Scotsman and Yorkshire Post newspapers, plunged 8% as news of a 16.1% fall in revenues for the past four months overshadowed a report of moderating declines in advertising revenue and the prospect of gains in circulation income.
Edinburgh-based Johnston Press, which is restructuring after being squeezed between a tough advertising market and its debt load following the credit crunch, said in the 18 weeks to November 3, circulation revenues fell 5.1% year-on-year and there was a 16.3% drop in advertising income.
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