Profit leap no effect on IN&M

THE 40% growth in net profits at Independent News & Media’s 40% owned APN News and Media company had practically no impact on the share price of the owner of the Irish Independent yesterday.

Despite the massive increase in profits at APN’s businesses in Australia and New Zealand, shares in IN&M made a small gain in early trade.

This was eroded by close of business to leave the shares almost unchanged at €2.34, down 1 cent.