INM operating profit up 4%

Independent News & Media has reported a near 4% annualised increase in operating profit for the year to date, adding that it has seen “a noticeable improvement” in advertising revenue since June.

In a trading update, covering both the year to date and the three months since the beginning of July, INM yesterday delivered an upbeat message supported by recent improvements in the broader economy.

Between the start of July and the end of last week, the group said that advertising revenues fell by 8.1% year-on-year. This was a significant improvement on the 14.6% decline seen over the course of the first six months of the year.