Redundancy costs hit Johnston Press

REDUNDANCY costs totalling €4.1 million at one of Ireland’s largest media groups, Johnston Press Ireland Ltd, resulted in the group recording a pre-tax loss of €6m last year.

According to accounts just filed to the Companies’ Office by Johnston Press Ireland Ltd, the group, which owns 12 Irish regional newspapers, recorded the pre-tax loss of €6m after recording a pre-tax profit of €3.9m in 2008.

The figures for the year to January 2, 2010, last show that the group’s revenues dropped 17% from €36.9m to €30.6m.