Indo’s owners set for Irish and UK profits fall

IRISH Independent owner Independent News & Media is tomorrow expected to declare a fall in operating profits in Ireland and Britain.

However, better results at the media company’s African and Australian operations are expected to push pre-tax profits before exceptionals up 6% to €64m for the six months to the end June 2003.

Davy Stockbrokers, one of a number of brokers retained by the Sir Tony O’Reilly-led company, in a flash note to clients said while the operating environment in Ireland and Britain remained challenging during the period, the Southern Hemisphere operations have benefited from strong advertising growth in their respective markets.