Independent News & Media posted higher first-half pre-tax profit today and said it was well positioned to meet market consensus forecasts for full-year earnings.
Independent, whose chief publishing operations are in Ireland, Britain, Australia and South Africa, said pre-tax profit in the six months to end-June edged up to euro52.4 million from euro51.7 million in the same period of last year.
Adjusted earnings per share (EPS) - fully diluted and before exceptional items and amortisation - rose seven per cent to 6.09 cents, in line with market expectations.
Operating profit before exceptionals increased by 3.8 per cent to euro106.6 million, with turnover in the period up 3.9 per cent to euro659.6 million.