Indo group reports 10.2% fall in profits

INDEPENDENT News & Media (INM) is to increase dividends to shareholders by 5.5% despite reporting a 10.2% decline in profits for the first sixth months of the year.

INM's executive chairman, Tony O'Reilly, holding 26.8% of INM shares, will be the single biggest beneficiary of the decision to increase dividends.

In a statement accompanying yesterday's results the board said the increased dividend reflected it's confidence in the strength of the group's operations.