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Article: INM boosted by 'stabilising' advertising revenues
- Article from:
- The Independent (London, England)
- Article date:
- October 30, 2009
- Author:
CopyrightCopyright 2009 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Independent News & Media, the publisher of The Independent, has
seen revenues improve since July as the advertising market has begun
to stabilise.
The media industry has been battered by the worst slump in
advertising in living memory, but INM yesterday announced that the
19 per cent fall in advertising revenues this year now "demonstrates
a stabilising trend".
Revenues for the year to 23 October are down 14 per cent year on
year, an improvement from the first half when they were down almost
15 per cent.
While the operating profit was 37 per cent lower than last year,
it has strengthened since the group posted a 44.8 per cent fall at
the half year.
"The improved operating profit performance ...