Independent Profits Rising Despite Times Competition

Independent News and Media has revealed a strong performance during 2004, with the company seemingly unfazed by rival the Times‘ decision to compete on a totally-tabloid basis earlier this year.

In a pre-close trading statement issued today the company predicted a successful 2005, announcing that overall group circulation revenues are expected to be up 10% year on year, aided by the successful launch of the Independent‘s compact edition in Ireland and the UK.

The most recent circulation figures for the Independent show a year on year increase in circulation of 17.2% in the six months to November, with the newspaper now commanding a total of 263,209 sales. However, the Times remains the most successful quality title, with a circulation almost three times the size of its compact rival at 659,547.

Independent News and Media also revealed a rise in group advertising revenues, increasing by 10% year on year, with Q4 proving particularly strong as all key advertising categories showed progressive improvement on last year.

The company’s total group revenue for 2004 is comfortably ahead of 2003, with the success attributed to a combination of good advertising and circulation growth.

The group’s outlook for 2005 remains optimistic, with strong results for the past year putting it at the forefront of comparable media companies for 2005.

Independent: 020 7005 2000 www.independent.co.uk

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