Independent Owner Predicts Second Half Circulation Increases

Independent News & Media, owner of the Independent, has reported an increase in the paper’s display advertising revenue, but a drop in classified revenue due mainly to shortfalls in financial recruitment advertising. The company also predicted ‘continued improvement in circulation’ for the Independent in the second half of this year.

The group’s Irish and Australian papers performed well during the first half of the year. Pre-tax profits across the company rose by 47% to £61.0 million for the six months to 30 June 1999; turnover was up 33% to £525.7 million.

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