Stampen Media, one of Sweden's largest media groups that publishes, among other things, Göteborgs-Posten and Hallands Nyheter, reports a result of 13 million kronor for the second quarter. It is a halving compared to the corresponding period last year and is driven by lower revenues.
Stampen has previously announced that a savings program has been initiated, which means a reduction of staff by about 60 positions within the media operations. In addition, the distribution operations have been streamlined during the first half of the year.
"We need to get our costs down to compensate for reduced revenues as the result is not satisfactory. At the same time, we must continue to increase our digital circulation and advertising revenues during the coming quarters", says Johan Hansson, CEO of Stampen Media, according to a press release.
