LONDON (Alliance News) - Irish newspaper and media group Independent News & Media PLC on Thursday said the tough conditions in the print advertising market have continued into 2016.
Chairman Leslie Buckley, in a statement to be given at the company's annual general meeting, said the group has seen growth in digital advertising revenue in the four months to the end of April, but print advertising's decline has accelerated.
This has resulted in total advertising revenue for the first four months falling year-on-year, Buckley said. The decline in circulation has remained broadly consistent with 2015 trends, the chairman added.
Buckley said Independent News continues to focus on managing costs and said total revenue for the first four months was higher, driven by its distribution business.
At present, Buckley said the company anticipates its pretax profit for 2016 will be within the range of market expectations.
Copyright 2016 Alliance News Limited. All Rights Reserved., source Alliance News