Independent South Africa profits

Independent South Africa profits

INDEPENDENT Newspapers Holdings, the South African subsidiary of Independent Newspapers, the media group which publishes The Independent, yesterday reported pre-tax profits of Rand 161.3 million for 1998, against Rand 176 million in 1997. Liam Healy, chief executive of Independent Newspapers, said that although the outlook for the local economy remained depressed and expectations for economic growth in 1999 were modest, the positive benefits of the group-wide restructuring exercise would position the group to take advantage of any upturn in the economy.