Indo profits up 43% to €68.1m

PRE-TAX profits at Independent News and Media jumped by 43% to €68.1 million in the first six months of the year as revenue increased and the benefits of an aggressive redundancy programme kicked in.

Commenting on the results chief executive Tony O’Reilly said trading in 2004 has been very positive, with all five markets showing good revenue and profit growth.

“That positive trading position has continued into the second-half, and as such, your board remains confident of further improvements in underlying profitability for 2004, at least in line with market consensus forecasts.