19th Apr 2006 15:27
Independent News & Media PLC19 April 2006 INDEPENDENT NEWS & MEDIA PLC Jagran Prakashan Limited ('JPL') announces unaudited results for the financial year ended March 31st 2006. Ticker: (Reuters) INWS.I / INWS.L and (Bloomberg) INWS ID Dublin/London - 19 April, 2006: Independent News & Media PLC ("INM") is pleasedto announce that its 20.8% associate company, Jagran Prakashan Limited ('JPL') -publishers of India's largest circulating/world's largest read newspaper, DainikJagran - has reported (unaudited) 28% growth in total income of Rupees 4.83billion in the financial year ended March 31, 2006 as against Rupees 3.77billion in the previous financial year 2004-05. Net profit during the yearincreased phenomenally to Rupees 320.1 million as compared to Rupees 12.3million in the previous financial year. During the fourth quarter of the year, JPL recorded revenue of Rupees 1.31billion while net profit was Rupees 130.0 million. The sharp improvement in operational performance during the financial year wasmarked by an increase in advertising revenues and increased circulation volumes,coupled with higher per copy realisation. It was also accompanied by costoptimisation. Advertisement revenue increased by 32% to Rupees 3.07 billion, which was drivenby an increase in local advertising as well as colour advertising. JPL is addingcolour printing capacity across its various centers, which would further provideimpetus to advertising growth. The year saw an 8.8% increase in the number ofcopies sold during the last year. This was also accompanied by an increase incover price by Rupees 0.50 to Rupees 1.00 amongst several editions. The optimisation of consumption between imported and indigenous newsprint led tosignificant cost savings. The rationalisation of employee strength also added tothe savings. The operating margin improved to 15.8% during the year as compared to 7% in theprevious year. The earnings per share (EPS) stood at Rupees 8.37 for FY 2005-06,marking a phenomenal growth over the previous year. During the last quarter, Jagran Prakashan raised Rupees 3.21 billion in an IPO.The issue was an overwhelming success and the IPO was oversubscribed 14 times. "We aim to establish Jagran Prakashan as a leading player in all of itsbusinesses - be it in publication, out of home (OOH) advertising, promotionalmarketing and event management services. We are thankful to all our shareholderswho have reposed their faith in us and we shall remain committed to them," saidMr. Mahendra Mohan Gupta, chairman and managing director of Jagran PrakashanLimited. ENDS For further information, please contact: Gavin O'Reilly Chief Operating Officer +353 1 466 3200Donal Buggy Chief Financial Officer +353 1 466 3200 +---------------------------------------------------------------------+ |About Independent News & Media PLC | +---------------------------------------------------------------------+ |Independent News & Media PLC is a leading international media and | |communications group, with interests in Australia, Ireland, New | |Zealand, South Africa, the United Kingdom and most recently, India - | |operating in the areas of newspapers (national and regional), radio | |and outdoor advertising. The Group publishes over 175 individual | |titles with a weekly audience of over 100 million consumers, in | |addition to its 70+ online sites. The Group manages gross assets of | |€4.0 billion, revenue of over €1.8 billion and employs over 11,000 | |people worldwide. Further information is available on the Group'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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