Independent News & Media has reported a 7.1% increase in its UK operation’s advertising revenues in the first half of the year.
INM said that advertising had been boosted by growth in display revenue at the
Independent and classified advertising growth.
It added that operating profits in the UK had grown by 19.7% to €7.3 million (€5.1 million) for the first six months of 2007.
Overall, the group reported a 2.4% rise in first-half revenues to €815.5 million (£567.1 million).
Sir Anthony O’Reilly, Chief Executive, said: “INM is pleased to report another set of record results. This strong performance reflects the clear benefits of our low cost ethos and our multi-market and multi-media strategy.
“We believe that our new work practices are right at the forefront in the production of newspapers, and we will continue our unrelenting attention on driving revenue growth while achieving cost and margin improvements in all of our businesses.
“The positive trends we have experienced in the first half across all our markets have continued into the second half and, based on the continuation of these trends, we believe that your Group’s wide-ranging activities will deliver continued earnings growth and sustain industry-leading operating margins.”
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