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Independent News and Media produces impressive 2005 results | Print |  Email
Wednesday, 22 March 2006

Independent News and Media today announced preliminary results for the year to the end of 2005, showing pre-tax profits up 41.6% to €272.5m, on turnover that increased by 7.5% to €1,611.5m. Advertising revenue grew 10.7% while circulation revenue was up by 6.4%. Growth in both revenues and profits was reported from all regions; in addition to its Irish interests IN&M is also active in South Africa, Australasia, Britain and India. Net exceptional items accounted for a positive €30.5m in 2005, compared to an exceptional charge of €13.6m in 2004. This net gain was primarily due to the successful disposal of the Group's investment in iTouch plc; that generated a net gain of €62.7m, partly offset by once-off redundancy and other costs associated with the closure of the Sunday World print site in Dublin, and miscellaneous other items.

Two weeks ago we wrote that the Sunday Independent had experienced a loss of readers during 2005. This isn't the case. While the newspaper's sales were down by 1.6% according to the ABC Island of Ireland Report, readership increased by some 20,000 to 1,095,000, as indicated by the Joint National Readership Survey.

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