INM downbeat on year’s prospects

Independent News & Media has given a downbeat outlook for the rest of this year on the back of a 3.5% like-for-like fall in group revenue for the year to date.

In its last trading update ahead of its hotly-anticipated annual general meeting early next month, INM said combined circulation revenue for the 19 weeks to May 11 was down by 3% year-on-year, with total advertising revenue falling 5.3%, although, within that, digital revenue was up by 17.6%.

“Trading patterns were somewhat disrupted around the Easter period, but now appear to be returning to more normal trends, with some stronger advertising weeks interspersed among weaker ones,” a company statement said.