US publisher sees Q1 revenue climb 11%

US publishing giant Gannett said it sees some recovery in the advertising environment with first quarter operating revenue up 11% to $1.73bn (€1.44bn), on the previous quarter.

The strongest gain came in newspaper advertising, which climbed 15%, with television showing a 7.1% increase on the last quarter of 2003.

The results from Gannett, which publishes USA Today, the largest-selling US daily paper, as well as 100 other dailies in the US and the UK, and the New York Times, reflect an improved economic outlook across many sectors.

However, the group is cautious about declaring the recovery complete and warned that employment advertising remains weak in papers in states such as Michigan and Ohio.

Gannett said that there is strong ad spending on the US presidential race which is boosting performance among its 22 television stations.

Gannett publishes 300 titles in the UK through its Newsquest subsidiary, and said advertising had improved at those papers, with the dollar-sterling exchange rate giving profits a boost.