Independent Group announces 14% profit increase

Independent News and Media has announced a 14% rise in underlying operating profit for 2010.

The results also show 13% growth in online revenue, prompting the group to announce a number of developments for their internet business.

It includes the launch of a new jobs portal, an online coupon service, the "aggressive re-development" of independent.ie, and the appointment of former Sunday Tribune editor Noirin Hegarty as online editor.

Heads of agreement have also been signed on a deal to acquire a 50% shareholding in carsireland.ie.

INM Chief Executive Gavin O'Reilly has said they are not ruling out charging users for some content on their larger newspaper websites.