SHAREHOLDER in the Australian-based APN News and Media were told at the AGM yesterday that 2006 was another year of record profits.

APN News & Media has said that its independent directors have yet to reach a conclusion over the Aus$2.4 billion (€1.42bn) takeover offer from an investment group headed by Independent News & Media.

THE 40% growth in net profits at Independent News & Media’s 40% owned APN News and Media company had practically no impact on the share price of the owner of the Irish Independent yesterday.