Johnston Press ups value of Irish titles

NEWSPAPER group Johnston Press has upped the “carrying value” of its titles in the Republic from €13 million at the end of July 2010 to €31m at the end of July 2011.

In Britain, the group has moved into the growing discount vouchers market in a bid to revive its business after profits fell nearly 50% in the first half of the year.

The group, which counts The Scotsman and Yorkshire Post in Britain and the Limerick Leader and Kilkenny People in Ireland among its publications, recorded pre-tax profits of £13.8m (€15.6m) in the 26 weeks to July 2, down from £26.1m the previous year.