Record figures at media group

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Independent Newspapers, controlled by Tony O'Reilly, reported record operating profits of IR£40.5m for the year to December 1994, an increase of 50% over 1993. Turnover rose to IR£271.4m from £1R173.5m.

Independent Newspapers is involved in printing, publishing and distribution of newspapers and magazines in Ireland, South Africa, the UK, France and Australia. It also has outdoor advertising and electronic media operations. The company also owns 29.9% of Newspaper Publishing, which publishes the Independent.

In a statement, Independent Newspapers said that expected strong economic performance in Ireland in 1995 and continued economic recovery elsewhere should lead to further growth.