Operating profits at INM increase by 10%

INDEPENDENT News & Media (INM) has said that its operating profits for the year-to-date are up by around 10%, on a like-for-like basis, and full-year profits could climb to €225 million.

The group’s first trading update since its interim results keep management’s target of improved full-year profits intact – stating that they should come in at between €220m and €225m. Last year’s operating profit, before exceptional items, amounted to €177.2m.

Yesterday’s statement added that INM’s year-on-year underlying revenue trends – for the first 10 months of the year – are “marginally better” than those for the first half of 2010.