Independent Record profits rise

INDEPENDENT NEWS & Media, the owner of The Independent and The Independent on Sunday, reported a record 47 per cent rise in first half pre-tax profit yesterday.

The news follows the latest circulation figures in which The Independent was the only broadsheet to show a sales increase year on year.

The chairman of Independent Newspapers, Dr A J F O'Reilly, said: "The first half of the year has seen strong performances from Ireland and Australia, which has now been consolidated, together with an improvement in New Zealand. This has produced an excellent first-half result for Independent News & Media."

The company noted that in its UK operations The Independent had achieved in June its highest market share since November 1997, and all operating divisions performed well despite an economic slowdown. A New Media division has been established and significant progress has already been made, with monthly page accesses in excess of 10 million.

Full report, page 17