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Independent subsidiary boosts profits

ndependent subsidiary boosts profits

Australian Provincial Newspapers, the Australian subsidiary of Independent Newspapers, which owns 46 per cent of the publisher of The Independent, announced a 16 per cent rise in underlying post-tax profits to A$12.6m (pounds 5.8m) for the six months to June thanks to a rise in earnings from its Australian Radio Network subsidiary. It said the group had performed well despite difficult trading conditions and was well positioned to continue to grow profits.