Independent Newspapers, the Irish media group, has today announced a rise in pre-tax profits from IR£66.8 million to IR£100.1 million in 1997. Turnover was IR£598.8 million, up 43% on IR£419.1 million in 1996. Good ad revenues from a strong economy helped boost the figures.
Chairman Tony O’Reilly said: “The current year has been positive in all our markets, and the decision to acquire full ownership of Wilson & Horton in New Zealand will further enhance earnings growth in 1998.”
Last month the group announced it would be taking full control of the Independent and Independent On Sunday (subscribers see Independent Gets New Owner).
At 2pm the company’s shareprice was unchanged at 372.5p.
Independent Newspapers: 00 353 1873 1666
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