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4-Traders Homepage  >  Equities  >  Irish Stock Exchange  >  Independent News & Media PLC    INME   IE00B59HWB19

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Independent News & Media : ' Profit Rises Despite Continuing Tough Conditions

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03/21/2017 | 11:35am CET

LONDON (Alliance News) - Independent News & Media PLC on Tuesday said a significant decrease in pre-distribution operating costs and a rise in digital revenues were to thank for the increase in annual pretax profit in 2016.

The Irish newspaper and media group said total revenue grew 0.7% in 2016 to EUR323.4 million from EUR321.2 million in 2015, thanks to a 20% rise in digital revenue and an improvement within its Distribution unit, as it benefited from new lines of business.

The rise came despite the continued decline in publishing advertising revenue, of 9.2% in the year, as well as the fall in revenue from circulation operations and contract printing due to the closure of the printing operation in Belfast.

Independent News & Media's digital performance was driven by the combined growth in advertising, classifieds and its purchase of CarsIreland.ie. The group said it is focusing less on display advertising revenue and instead is looking to combine native, programmatic audience targeting and commercial partnerships.

Pretax profit grew to EUR55.2 million from EUR31.2 million, helped by the 9.0% reduction in pre-distribution operating expenses, as the company continued to integrate its operations and made operational savings.

Independent News & Media noted that the media industry continued to face challenging times, pointing to the "declining publishing advertising and circulation revenues, and the current slowdown in digital display advertising".

However, despite this, the group said it expects that its earnings before interest and tax performance in 2017 will be within market expectations and that it will continue to generate cash.

Shares in Independent News & Media were up 7.9% at EUR0.120 on Tuesday.

Copyright 2017 Alliance News Limited. All Rights Reserved., source Alliance News

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Financials (€)
Sales 2017 317 M
EBIT 2017 37,0 M
Net income 2017 32,2 M
Finance 2017 109 M
Yield 2017 -
P/E ratio 2017 4,68
P/E ratio 2018 4,68
EV / Sales 2017 0,17x
EV / Sales 2018 0,09x
Capitalization 162 M
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 0,17 €
Spread / Average Target 41%
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Managers
NameTitle
Robert Pitt Group CEO, Director & Head-Investor Relations
Leslie Buckley Chairman
Ryan Preston Group CFO & Investor Relation Contact
Paul Connolly Non-Independent Non-Executive Director
Allan Marshall Independent Non-Executive Director
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Sector and Competitors
1st jan.Capitalization (M$)
INDEPENDENT NEWS & MED..-5.88%175
NEWS CORP9.25%7 366
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FAIRFAX MEDIA LIMITED14.61%1 788
DB CORP LTD0.00%1 062
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