SHARES in Independent News & Media (INM) hit a 12-month high yesterday after chairman Leslie Buckley said the company was well positioned to build on Ireland's economic improvement.
Shares reached 10.50c in early trading, the highest since October 15, 2012, before ending the session at 9.20pc each.
That is close to 40pc higher than the start of the week.
INM is well positioned to build on the economic improvement, chairman Leslie Buckley told a conference in Cork yesterday. Advertising revenue declined at a rate of about 14pc in the first half of the year, but since June it has fallen at a rate of 5.5pc, he said.
"On average for the year, it has declined at approximately 12pc," he said, adding: "Hopefully we're in a position to build on the economic improvement and we're well positioned to do that."
Mr Buckley was one of a number of panellists at the Global Cork Economic Forum.