The group’s newspaper and printing operations saw a 25.3 per cent decrease in profits over the same period to £49.1 million, while magazine profits were down by 22.2 per cent to £21.7 million.
In contrast, the company’s digital revenues increased by 18.9 per cent – but this rise was not enough to offset the downturn in traditional revenues for the publisher.
“Adjusting to this new and different world and restoring levels of profitability will take time. We remain confident of our ability to exploit the many opportunities to do so, utilising our powerful brands and building on our relationships with our readers and advertisers,” said chairman Richard Jewson in the release.
Jeakings, currently finance director at the Archant group, will commence the role on November 1. Prior to working at Archant he was the group finance director of the Stationery Office.
Brian McCarthy will replace Jeakings as Archant’s group finance director.
The chairman of Archant, Richard Jewson, said in a release published today: “Both Adrian and Brian have contributed a great deal to our success and it is a tribute to John Fry that he has created such a strong management team”.
In the release, John Fry said: “I am extremely excited to be joining Johnston Press and relish the opportunity to build on the success of Tim Bowdler and his team. The company has a strong local media franchise covering large parts of the UK and Ireland which I look forward to developing in both print and digital formats.”