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 Cyclist in Russia narrowly misses being hit by car and lorry
- 2 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 3 What are your fingerprint words?
- 4 Gary Lineker involved in Twitter row after presenter rubbishes claims he will be warned by BBC over foul-mouthed tweets
- 5 Pink Floyd new album: Band unveil cover art for first record in 20 years
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
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
Labour Party conference: Ed Balls to set out plan to freeze child benefit to balance books
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...