Independent News & Media has reported record results in 2005, enjoying a year on year increase in revenue of 7.5%, reaching €1,611.1, up from €1,499.2 a year earlier.
Advertising and circulation were up by 10.7% year on year and 6.4%, respectively, benefiting from a combination of enhanced yield/price and higher volume on core products.
All regions showed grow across media platforms, contributing to the strong growth in both revenues and profits achieved by the Group in 2005.
Operating margins rose to 19.3%, up from 18.6% in 2004, reflecting the impressive trading performance and strong cost management implemented by the Group in 2005.
Strong underlying trading performances across the Group delivered an 11.4% improvement in operating profit before exceptionals, with profit before tax rising by 41.6% year on year.
Looking specifically at the UK, revenue grew by 3.6% year on year, reaching €209.1 million, while operating profit increased by 11%, hitting €15.1 million.
The Group’s flagship publications, The Independent and Independent on Sunday dramatically outperformed the UK market, delivering a 11.4% rise in advertising and further capitalising on The Independent’s strong circulation growth resulting from its conversion to compact format in late 2003.
This solid performance continues from the record interim results for the six months to 30 June 2005 announced by Independent News & Media last summer. The Independent saw particularly strong growth with 18.5% increase in advertising revenues, despite a “volatile market (see Independent Sees Strong Growth In First Half Of 2005).”
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