Regional newspaper group Johnston Press said today it saw little signs of recovery in the advertising market with much recruitment advertising migrating to the internet.
The owner of the Leinster Leader and the Scotsman newspapers said operating profit for 2005 was £177 million (€258 million) unchanged on the previous year. Revenues of £520.2 million (€758 million) were largely unchanged due to the weak advertising market.
"In the early weeks of 2006 the advertising market remains challenging with no early signs of recovery" Johnston's chairman Roger Parry said.
" The group remains committed to improving operating efficiencies and maintaining a tight control on costs," he added.