Mediahuis profits fall by 44%

Belgium-based group which owns the 'Irish Independent' attributed its falling profits to inflation and the high cost of paper

Mediahuis completed the purchase of Independent News and Media in 2019. 

Profits at Mediahuis were cut nearly in half last year down to €65.3m as operations were hit by inflation and the high cost of paper.

In 2022, Mediahuis — whose portfolio in Ireland includes the Irish Independent, Sunday Independent, and the Sunday World — posted a turnover of €1.2bn in 2022, up from €1.13bn recorded in 2021.