Independent News & Media have announced a fall in revenues in their Interim Management Statement for January to November 14.
INM saw it Group Revenues decline by 2.2% and its Circulation Revenues go down by 2.7%, but when taking into account the impact of the closure of the Group’s NI free-sheet business, total advertising revenues for print and online went up by 0.4%.
The Group's operating Costs reduced by 2.9%.
Print advertising revenues are down by 3.4% YTD, compared to a decline of 2.7% for the first six months of the year, although they say advertising for Property, Recruitment (ROI) and Inserts have continued to show strong growth this year.
Their online revenues are up 33.1% so far this year, compared to an increase of 30% for the six months ended June 30, 2014.
The Group’s daily deals website, GrabOne, recorded growth of 8.6% up to November 14.