Sales at INM rise 8 per cent

The Scotsman - - Comment -

IN­DE­PEN­DENT News & Me­dia yes­ter­day posted its first growth in rev­enue in more than two years as re­cov­er­ing ad­ver­tis­ing pushed first half­sales up 8 per cent year-onyear.

The group, which in March agreed to sell the In­de­pen­dent and In­de­pen­dent on Sun­day news­pa­pers to for­mer kGB agent Alexan­der Lebe­dev, said op­er­at­ing profit for the pe­riod rose by al­most 30 per cent and re­it­er­ated it ex­pected its full- year re­sult to im­prove. Dublin­based INM, which also owns news­pa­pers in Ire­land, South Africa and Aus­trala­sia, said ad­ver­tis­ing trends, rev­enue per­for­mance and prof­its con­tin­ued to im­prove in July and Au­gust.

Chief ex­ec­u­tive Gavin o’Reilly said: “Af­ter an ex­tremely dif­fi­cult 2009, we’ve had a very good start to 2010. We are tar­get­ing an im­proved op­er­at­ing per­for­mance for the year.”

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