Yell Group, the owner of the Yellow Pages, has blamed increasing competition for a 4.4% drop in classified advertising revenue for its print edition over the nine months to December 31. The company predicts this will continue as advertisers “tighten their belts” this year.
The dip was off set by a 49% increase in revenue for Yell.com meaning the company reported a 3.3% increase to £527m overall.
John Condron, Yell chief executive, says: “Despite toughened trading conditions, particularly in the UK, these results keep us well on track to meet year end earnings and cash expectations.”
He adds that the company hopes to grow its online business, Yell.com, and will be introducing “more flexible pricing” in the UK.
A Yell spokesman says the predicted decrease is “a yield issue” because larger advertising campaigns had came to an end after Christmas.
Yell Group also operates in the US, Latin America and Spain and says overall revenue across the international group is up by 7.9%.