The publisher of the Press and Journal newspaper is reported to have seen its advertising revenue increase by six per cent.
Says The Herald, ad revenues are up six per cent at Aberdeen Journals, with the paper adding the increase is taking place “just months after it booked a 61.7 per cent fall in pre-tax profits”.
The report continues: “Total advertising revenues for the year to March 31 2010 were 23 per cent behind the year before, knocking pre-tax earnings from £5.9 million to £2.3 million, according to accounts filed with Companies House. Two years ago, profits stood at £7.7 million.
“The directors of the company, in its fourth year of ownership by Dundee-based DC Thomson, said: 'Advertising revenue decline was at its greatest at the start of the financial year. By autumn 2009, the market began to stabilise and in early 2010 some year-on-year gains in advertising were being achieved.'”
The company – which also publishes the Evening Express – is quoted, saying: “Operating performance since the year-end date has been encouraging and advertising revenues in the first six months of the new financial year have been six year per higher than last year.
“Our local economy, which in the past has remained resilient during previous national downturns, has been affected by market conditions and the jobs market in our local economy has been relatively inactive.”
Recruitment advertising is said to have been the worst-hit area in the 2010 financial year, down 49 per cent year-on-year.
Other figures quoted in the piece, include:
* One per cent drop in circulation income, despite cover price increases.
* Overall turnover was down 14.3 per cent to £32.6 million.
* The wage bill fell by 0.5 per cent to £12.8 million, with the workforce numbers down from 522 to 518.
