Independent group in Australian sale
Wednesday 03 March 1999
Informa is buying the title for A$10m (pounds 6.2m) from APN News & Media, the Australian media group in which Independent Newspapers, owner of The Independent, has a 33 per cent stake.
Informa plans to combine the Daily Commercial News, which was set up in 1891, with its own title, Lloyd's List Australian Weekly. From April, a combined paper will be published three times a week.
David Gilbertson, Informa's chief executive, said the acquisition would "enable Informa to offer an unrivalled information service to the Australian import and export community". The title has 4,000 subscribers and last year made a pre-tax profit of A$900,000 on turnover of A$4.5m.
The news emerged as APN reported a 16 per cent increase in pre-abnormal net profit after tax and minorities to A$35.3m for the year to last December, the sixth year of growth since the company was floated in 1992.
The rise was driven by a 15 per cent increase in operating profits from the broadcasting division and a 10 per cent profits hike from the outdoor advertising unit, which was helped by the accelerating interest in the Olympic Games, to be held in Sydney next year.
- 1 Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
- 2 Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
- 3 Kim Kardashian 'nude pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
- 4 Alex Salmond: 'The rocks would melt with the sun before I'd ever set foot in the House of Lords'
- 5 Ice Bucket Challenge: US firefighter Tony Grider dies after participating in charity craze near power lines
'The Fappening': Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
Kim Kardashian 'nude pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
The Fappening: Jennifer Lawrence leaked 4Chan sex video branded 'fake' by forum users
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...