Johnston Press has reported a loss of £287m for last year, after a non-cash writedown on the value of its newspapers and printing presses, but at an operational level managed to boost profits for the first time in seven years.  

The regional newspaper publisher racked up the paper loss – in 2012 its pre-tax loss narrowed to just £6.8m – due to factors including cutting the carrying value of its titles by £202m and its printing facilities by over £60m.

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