28th Jul 2009 14:53
INM'S INDIAN ASSOCIATE REPORTS TOTAL REVENUE GROWTH OF 16% & NET PROFIT GROWTH OF 56% FOR THE QUARTER ENDED JUNE 2009 - THE HIGHEST PROFIT IN ITS HISTORY
Ticker: (Bloomberg) INM.ID/ INM.LN and (Reuters) INME.I/ INME.L
Quarter 1 (all comparisons with Quarter 1 2008/09)
Operating Revenue at €34.9m, was up 12.3%
EBITDA at €10.6m, was up 42.0%
Advertising Revenue at €24.2m, was up 14.9%
Circulation Revenue at €8.2m, was up 14.1%
Profit After Tax at €7.4m, was up 56.4%
EPS (non annualised) of Rs 1.64 compared to Rs 1.05
Dublin/London 28th July 2009: Jagran Prakashan Limited ('JPL'), publishers of 'Dainik Jagran', India's largest read newspaper - in which Independent News & Media PLC ('INM') has a 13.5% shareholding - has reported Operating Revenue of €34.9m for Quarter 1 FY 2010*, an increase of 12.3% year-on-year. Total Revenue and Net Profit for the quarter were €37.2m and €7.4m respectively. The non-annualized EPS for the quarter stood at Rs. 1.64.
The advertising revenue at €24.2m, was up 14.9% over the same period last year, while circulation revenue at €8.2m, was up 14.1% over the same period last year. Daily circulation figures for the 'Dainik Jagran' were also higher by 3.48%.
The revenue from other operating activities, which includes revenue from outdoor advertising, event management and mobile/SMS amounted to €2.0m.
Commenting on the performance of the company for the quarter ended 30th June 2009, Mr. Mahendra Mohan Gupta, Chairman and Managing Director, JPL said,
"The quarter was very heartening as it posted the highest profit in the history of the Company. The Company benefited from higher than expected growth in advertising revenue, low newsprint prices and we continued to control our cost base. There is a greater degree of certainty on the revenue front, reiterating our confidence in the Indian economy in general and our areas of operation in particular, which will result in much improved performance over the previous financial year."
* JPL's financial year - end is 31st March.
ENDS 28th July 2009
For further information, please contact:
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Gavin O'Reilly Dónal Buggy |
Chief Executive Officer Chief Financial Officer |
+353 1 466 3200 +353 1 466 3200 |
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Media Pat Walsh Murray Consultants (Dublin) Tel: +353 1 498 0300 |
Paul Durman/Keith Brookbank Powerscourt (London) Tel: +44 20 7250 1446 |
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Investors and Analysts Mark Kenny/ Jonathan Neilan K Capital Source (Dublin) Tel: +353 1 631 5500 Email: [email protected] |
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ABOUT JAGRAN PRAKASHAN LIMITED
Jagran Prakashan Limited is a leading media house of India which publishes Dainik Jagran, India's largest read daily with a total readership of 54.58 million readers (IRS 2009 R1). It was also voted the most credible and trusted newspaper in India, according to a survey by Globscan, conducted in 10 of the world's leading countries, including the US, UK, Germany and Russia.
Established in 1942, Dainik Jagran was the brainchild of the Indian Freedom fighter, Late Shri Puran Chandra Gupta. Dainik Jagran is now published in 37 editions across 11 states from 30 different facilities. The company also launched I-next, the first ever bilingual newspaper in the country in December, 2006 now published from 4 states in 9 editions and also has an English Infotainment paper called City Plus now published in 16 editions. The group publishes Sakhi, a monthly magazine targeted at women. The group also publishes Jagran Varshiki, an annual general knowledge digest, and various national and state statistical compilations.
Jagran Engage provides specialized 'Out of Home' advertising services with a Pan-India footprint. Jagran Solutions provides below the line activities like promotional marketing, event management and on ground activities having pan India presence. The company has Hindi news portal in association with Yahoo India, www.in.jagran.yahoo.com and the company's division J9 provides IVR/AVR/SMS services through its short code service 57272 and besides initiatives in digital businesses.
ABOUT INDEPENDENT NEWS & MEDIA PLC
- CORPORATE PROFILE -
INM is a leading international newspaper and communications group, with its main interests in Australia, India, Ireland, New Zealand, South Africa and the United Kingdom. Spanning four continents, 10 major markets and 22 individual countries, INM has market-leading newspaper positions in Australia (regional), India, Indonesia, Ireland, New Zealand and South Africa. In the United Kingdom, it publishes the flagship national title, The Independent, as well as being the largest newspaper group in Northern Ireland.
Across these regions, the Group publishes over 200 newspaper and magazine titles, delivering a combined weekly circulation of 32 million copies, with a weekly audience of over 100 million consumers and includes the world's largest read newspaper, Dainik Jagran, in India. The Group has established a strong and growing online presence, with over 100 editorial, classified and transactional sites.
INM is the largest radio operator - over 130 stations and an audience of almost six million people - and outdoor advertising operator in Australasia and also has leading outdoor advertising positions in Hong Kong, Malaysia, India, Indonesia and across Africa.
The Group has grown consistently over the last 15 years by building a geographically unique and diverse portfolio of market-leading brands, and today manages gross assets of €2.1 billion, revenue of €1.6 billion and employs approximately 9,600 people worldwide. Further information is available on the Group's website www.inmplc.com.
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