Johnston Press in 40m print investment

Johnston Press has earmarked another 40m of investment for its print division after it contributed to growth in turnover and profit.

For the six months to 30 June the regional newspaper publishers turnover rose 28% to 248.5m, while pre-tax profit grew 51% to 66.7m.

The print divisions operating profit increased by 14% to 2m, reflecting additional volumes and improved performance.

Chief executive Tim Bowdler said Johnston Press had decided to build a new press centre on a greenfield site in Sheffield to support its local publishing operations.

Expenditure on the new centre will be phased from 2004 to 2006, by which time it will be operational.

Earlier this year the group announced upgrades to its Sunderland and Leeds plants with investment in Goss print machinery and Agfa Polaris platesetters.