31st Oct 2006 12:50
Independent News & Media PLC31 October 2006 INM'S INDIAN ASSOCIATE LIFTS Q2 NET PROFIT BY 135% Dublin/London - 31st Oct, 2006: Jagran Prakashan Limited ('JPL'), in whichIndependent News & Media PLC ('INM') (ticker: INWS.I/ INWS.L) holds a 21%strategic shareholding, announced a 135.2% increase in Net Profit for its SecondQuarter (ended 30th September 2006). JPL (ticker: JAGP.BO), publisher of 'Dainik Jagran' - India's largest read andlargest selling daily newspaper - reported (unaudited) net revenues of Rupees1.42 billion (c. €24 million) in the quarter year ended 30th September, 2006, anincrease of 25.9% over the corresponding quarter of the previous year. Netprofit at Rupees 175.4 million (c. €3 million), was up 135.2% on the result forthe corresponding quarter. The EPS for the quarter was Rupees 3.49, versusRupees 1.91 in the corresponding quarter, an increase of 82.7%. Better advertising and circulation revenues from the publishing businessescoupled with the encouraging performance from Out of Home (OOH) and EventManagement activities contributed to the increased revenues. In the publishing business, advertisement revenue increased by 30.1% to Rupees914.8 million (c. €15.5 million), which was driven by increases both in ratesand total space sold, particularly colour. Colour advertising saw a sharpincrease, of over 40%, from the corresponding quarter of 2005-06, whilecirculation revenue increased by 8.4% to Rupees 427 million (c. €7.2 million)over the same period. The reduction in consumption of imported newsprint led to checking theincreasing newsprint cost. EBITDA for the quarter was significantly higher by69.2% at Rupees 290.6 million (c. €4.9 million). The OOH advertising division has acquired marketing rights of various outdoorproperties in Kanpur, Pune, Kolkata, Delhi, Mumbai and Bangalore, the last threebeing the top three markets for OOH, in addition to having a significantpresence in Lucknow. The division now has a pan-Indian presence. Jagran Solutions, an event management arm of JPL saw an impressive client listincluding Microsoft, Hutch, TVS Motors, ICICI Prudential, Escorts, StandardChartered Bank, M&M, Bajaj, TATA Indicom, HLL, etc. Commenting on the results, Mr Mahendra Mohan Gupta, CMD of JPL, said "We aredelighted to announce that the company was successful in achieving more than theexpected revenues and net profit in this quarter. During this quarter, thecompany's businesses have done well. We have substantially increased our clientbase in our OOH and Event Management businesses". Highlights of the Quarter •Dainik Jagran continues to be the No. 1 newspaper in the country in the 7th successive IRS rounds, once again widening the gap further from its closest competitor (IRS-2006 R2). •Launched two editions of City Plus, an English News-Infotainment weekly newspaper targeting the retail segment of advertisers, distributed free in the booming markets of Noida and Gurgaon. •JPL has launched its 31st edition in Amritsar and the number of copies sold in Punjab is up over 54% on the first quarter. •Applied for MIB approval for printing the facsimile edition of The Independent in India. •Achieving high operating margins primarily due to revenue growth. •Declaration of bonus issue in the ratio of 1 equity share for 5 existing equity shares to the shareholders on the record date of 3rd November 2006. 31st October 2006 For reference: Gavin O'Reilly, Group Chief Operating Officer Donal Buggy, Group Chief Financial Officer Independent News & Media PLC +353.1.466.3200 Pat Walsh Murray Consultants (Dublin) +353.87.226.9345 Rory Godson Powerscourt Media (London) +44.20.7236.5619 Declan Kelly/Paul Keary Financial Dynamics (New York) +1.212.850.5600 Mark Kenny/Jonathan Neilan K Capital Source (Dublin) +353.1.631.5500 ABOUT INDEPENDENT NEWS & MEDIA PLC ('INM') - CORPORATE PROFILE - INM is a leading international newspaper and communications group, with its maininterests in Australia, India, Ireland, New Zealand, South Africa and the UnitedKingdom. Spanning four continents and 21 individual countries, INM hasmarket-leading newspaper positions in Australia (regional), India, Ireland, NewZealand and South Africa. In the United Kingdom, it publishes the flagshipnational title, The Independent, as well as being the largest newspaper group inNorthern Ireland. Across these regions, the Group publishes over 175 newspaper and magazine titlesdelivering a combined weekly circulation of over 31 million copies with a weeklyaudience of over 100 million consumers and includes the world's largest readnewspaper, Dainik Jagran, in India. The Group has established a strong andgrowing online presence, with over 70 editorial and classified sites. INM is the largest radio operator - 132 stations and an audience exceeding fivemillion people - and outdoor advertising operator in Australasia and also hasleading outdoor advertising positions in Hong Kong, Malaysia, India, Indonesiaand across Africa. The Group has grown consistently over the last 15 years by building ageographically unique and diverse portfolio of market-leading brands, and todaymanages gross assets of €4.0 billion, revenue of €1.8 billion and employsapproximately 10,300 people worldwide. Further information is available on theGroup's website www.inmplc.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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