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INM net profit doubles to €14m

INDEPENDENT News & Media, the owner of this paper, said first-half profit more than doubled to €14m as some forms of advertising picked up, sales stabilised and readership of the media company's internet sites surged.

INM said net profit after exceptional costs doubled to €14m in the first six months of the year from €6.9m in the same period last year. Total revenues were little changed at €157.8m. Digital advertising sales soared 30pc to €3.9m while newspaper advertising enjoyed a good first half, thanks to rising demand for recruitment ads, property and inserts. Total newspaper advertising slipped 2.7pc to €35.9m.

"Our market-leading titles are well positioned to benefit from the expected return to growth in the Irish domestic economy," said chairman Leslie Buckley (above).