INM PROFIT EXPECTATIONS FOR FY 2017 REVISED DOWNWARDS FOLLOWING A DECLINE IN REVENUE AND INCREASED LEGAL COSTS

Dublin and London 9 November 2017: Independent News & Media PLC (INM ID, INM LN) Trading Statement.

INM announces a material reduction in expected full year Profit Before Tax [PBT].  The reduction in PBT expectation is primarily driven by a combination of ongoing challenging market conditions and higher once off legal costs, than previously envisaged.

In line with recent global trends in the media industry, INM continues to face ongoing revenue challenges with continued uncertainty in the market including Brexit.  

Legal costs related to the Independent Review and meeting the ongoing requirements of the Office of the Director of Corporate Enforcement ("ODCE") have been significantly higher than previously estimated.

The company is actively engaged in tackling the challenges it currently faces and will continue to seek to maximise its revenue streams.

Preliminary results for the twelve months ending 31 December 2017 will be announced on 9 March 2018.

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014  ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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