INM net profits up 9.7%

Media group Independent News & Media (INM) have announced an after-tax profit of €76.2m for the six months to the end of June, down 12.7% from €87.3m in the same period last year.

The group's net profit was up 9.7% (ie its profit before exceptionals). INM said this was due to its recent restructuring and added its performance was boosted by strong underlying advertising (+6.3%) and circulation (+2.5%) revenue growth in the publishing division.