Independent News and Media PLC has had a positive 2004, according to their pre-close trading statement, enjoying strong revenue growth and an expected 10% increase in group circulation revenue year on year.
All of the companies major markets, Australia, Ireland, New Zealand, South Africa and the UK have seen impressive revenue growth, with a strong seasonally adjusted Q4, resulting in total Group revenue being comfortably ahead of 2003. The company attributes this to a combination of good advertising and circulation growth.
Group advertising revenues have remained buoyant, increasing by 10% year on year, with Q4 proving particularly strong as all key advertising categories showed progressive improvement on last year.
Overall group circulation revenues are also expected to be up 10% year on year, aided by the successful launch of the “compact” edition of the paper in Ireland and the UK (see Record Results Push Independents Profits Up 42%).
Elsewhere, the company will be investing in the Indian newspaper industry with the proposed purchase of 26% of Indian newspaper publisher, Jagran Prakashan Private Limited, looking likely to be completed early in the New Year, for a consideration of 1,500 million Rupees.
The Group’s outlook for 2005 is extremely positive with strong results for 2004 putting them at the forefront of comparable media companies.
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