Midland Independent Newspapers today reported an 11% fall in pre-tax profits to £8.3 million for the six months to 30 June.
The rise in newsprint prices was principally blamed, adding £2.3 million to costs in the first half of the year. Growth in advertising revenues also dropped, from 30% the previous year to 10%. The interim dividend is raised 0.1p to 1.3p.
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