Sunday 8 December 2019

Digital revenue soars 17.8pc at Independent News & Media

INM outgoing chief executive Vincent Crowley. Photo: El Keegan
INM outgoing chief executive Vincent Crowley. Photo: El Keegan
Leslie Buckley

Thomas Molloy

Independent News & Media, which owns this website, said digital advertising revenues soared this year.

Digital revenues are up 17.8pc so far this year compared to a 14.6pc advance to the period from early January to mid-March.

A number of newspaper advertising categories have shown strong growth, with recruitment, property and inserts showing the largest year-on-year revenue increases, INM added.

The newspaper publisher added that overall trading conditions have “improved” since March when the company last updated the market.

“This performance is principally due to strong growth in our digital publishing operations, together with our NI classifieds business, with GrabOne showing marginal year-to-date growth,” the company said.

INM added that chief executive Vincent Crowley, who announced his resignation in March, retires from the board today and will leave the company on Friday.

INM said it is looking for a replacement and the publisher will be led by a committee consisting of chairman Leslie Buckley and board members Triona Mullane, Allan Marshall and Terry Buckley.

The publisher added that total group revenues fell 2.8pc with total newspaper sales off 2.4pc, due mainly to declines in Northern Ireland.

This was offset by a 2.8pc fall in operating costs.

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