WILSON & Horton, the New Zealand newspaper group controlled by Independent Newspapers, has had a solid second half this year, but at below target levels. Nevertheless, the group has "done very well against last year in a very tough climate", said Mr John Maasland, chief operating officer.

Wilson & Horton had a marginal increase in pre-tax profit to NZ$27.4 million (£12.5 million) in the six months to August 22nd, 1996, from NZ$27.1 million. Most newspapers in the group's stable had done "pretty well" but retail advertising had been hit and was well behind last year's levels.