Johnston Press shares plummet on debt fears

Shares in the troubled owner of The Scotsman and Yorkshire Post, Johnston Press, have dropped dramatically after the company announced a delay in publishing its preliminary results.

Johnston has moved the date from April 3rd to April 25th.

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As of November 5th last year net debt was a whopping £357m. The firm's market capitalisation is only £41.58m.

In line with the whole newspaper industry Johnston has suffered from a decline in advertising revenue.

The stock had fallen 12.1% by 11:04. Over the last five years Johnston Press shares have now lost 98.4% of their value.

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