Independent News & Media, which owns the Irish Independent, The Herald and the Sunday World among others, has today (28 August) posted a 13.5% increase in profits for the six months to 30 June.
The group saw its total revenue decline slightly (-0.3%) to €157.3 million for the period, however profit before tax rose to €15.1 million.
INM said that it had 'taken advantage of good market conditions in H1 2015, driving year on year growth in total advertising revenue of 2.9%'. Digital advertising at the group was up 43.8%.
Circulation revenue was down by 4.0%.
"The first half of 2015 has been very satisfactory for Independent News & Media both from an operational perspective, where we have seen a continued strong performance across our titles, and from a financial perspective where we have made significant progress in addressing legacy balance sheet issues," said Robert Pitt, INM group chief executive.
© 2015 - Checkout Magazine by Stephen Wynne-Jones