APN reports record profits

APN News & Media, in which Independent News & Media has a 39.2% shareholding, today announced a record profit after tax for 2007 of $169.4m (€115m).

This marks an 8% increase on the prior year, before non-recurring items of $2m US (€1.4m).

Underlying revenue increased 4% to $1.3bn (€882m).

The board of APN today declared a final dividend of 21.0 cents per share, payable on 24 April 2008, taking the total dividend to 31.5 cents per share, a 6% increase over 2006.