NEW! Investment Companies Centre

Underlying revenues rise at Independent News

Related Companies

  • Media

    • News for Spread Betters

    PreviousPrevious
    NextNext

    There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

    Get full details about Marketmaker:Investor Edition here. Advertisement

    Date: Wednesday 27 Aug 2008

    LONDON (ShareCast) - Adverse currency movements prevented Independent News and Media from declaring an increase in revenues in “challenging advertising markets” in the first .

    The Irish publisher of The Independent newspaper said group revenue in the first half of 2008 was €780.5m, down 3.7% from €810.5m in the first half of 2007, but up 3% at constant exchange rates.

    Circulation revenues at constant exchange rates rose 2%, while revenues from online activities jumped 23.3%.

    The Outdoor division grew revenue by 23.6% but the Radio arm fared less well, with underlying revenue down 3.9% despite gains in market share in the second quarter.

    Profit before tax edged up to €96.6m from €94.1m.

    The company acknowledged the tough market conditions it is currently operating in but said it expects full year results to be in line with expectations if the first half advertising trends continue.

    The interim dividend has been maintained at 4.57 cents per share.

    Digital Look have been voted
    "Best Research and Information Provider"

    4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
    Registered in England and Wales (registered no. 3678570).