19th May 2014 16:43
LONDON (Alliance News) - Independent News & Media PLC Monday said its revenues fell in the first 20 weeks of January due to falls in newspaper advertising sales and circulation revenues.
The publisher of regional newspapers in Ireland, Australia and South Africa said its revenues fell 2.8% in the 20 weeks ended May 16 as newspaper advertising revenues fell 2.4% and circulation revenues fell 2.5%.
However, the company said its digital advertising revenues increased by 17.8% and its operating costs fell by 2.8%, despite substantial investment in its digital activities.
Independent News & Media also said trading conditions have improved since the announcement of its full-year results in March.
At the time, the company announced that it swung to profit in 2013, even as revenue declined, as it posted exceptional benefits in 2013 while exceptional costs in 2012 did not re-occur.
Independent News & Media shares closed up 1.6% at EUR0.155 on Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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