Losses fall at newspaper group as cost-cutting measures take effect

NEWSPAPER groupJohnston Press Ireland significantly reduced its losses last year as it continued a number of cost-cutting measures.

Pre-tax losses amounted to €3.9 million, compared with a loss of just over €6m in the previous year, according to the accounts for the year to the end of December last.

The accounts reveal that there was an exceptional non-recurring item of €5.4m, €4.1m of which relates to the writedown of assets following the closure of the Limerick print press and the cost of the remaining lease on the property.