Independent’s restructuring boosts profits

INDEPENDENT News and Media’s jobcutting and restructuring programme aimed at making the company a low-cost provider in all its market is expected to boost profits this year and the years ahead.

Yesterday, company chief executive Tony O’Reilly told shareholders that the company which has media interests in Ireland, Britain, South Africa, Australia, New Zealand and India & is dedicated to being the low cost operator in all the markets in which it operates.

“Consistent with that, Independent’s stated objective is to sustain the highest operating margin of its peer group, and expects to report increased operating margins for the period.