IN&M company in share buyback

INDEPENDENT NEWS & MEDIA’S 39% owned Australian subsidiary, publishing and advertising business APN News and Media Ltd, will undertake an on-market share buyback on the back of a 10% nett profit growth in 2005.

“Should current trading conditions continue, nett profit growth of at least 10% is achievable, resulting in a net profit after tax of at least A$141 million (€118 million),” said APN chairman James Parkinson.