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Independent online ad revenues up by 65%

by Robin Parker, Media Week 21-Mar-07, 13:20

LONDON - A 65% surge in online ad revenues for The Independent helped parent company Independent News & Media to grow its UK revenues by 8.4% to £154m in 2006.

In a trading statement today, the publisher said the growth also reflected cover price increases, additional contract print revenues in Belfast and further revenues from the acquisition of propertynews.com.

Despite a weak ad market in Northern Ireland, which led to a 3.2% drop in The Belfast Telegraph's revenues, UK ad revenues were up 0.5%, helped by a 2.2% growth on The Independent.

The group reported a 1.5% growth in revenues to £1.1bn, reflecting underlying revenue growth of 5% for circulation and publishing.

INM said its performance was helped by cost-tightening across the group, including a restructuring of its Belfast operations that included job cuts.

The Independent made cuts to its editorial staff this month and is currently in talks with union representatives.