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Independent News & Media Posts 13.5% Increase In Profits

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

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