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INM now on course to beat 2002 earnings.
(From Irish Independent)
SHARES in Independent News & Media (INM) rose further yesterday afterthe company said its revenues were running ahead of the same period last year.
In a pre-close period trading statement, INM said it was on course to deliver a meaningful improvement in 2003 earnings.
The group's total revenues across its five primary markets - Australia, Ireland, New Zealand, South Africa and the UK - are ahead of last year.
"To further augment core revenue expansion, the group has also launched several newproducts within its publishing division, which have gained good market reaction," the statement said.
It added that it was making good progress in market share, "with strength in the coreclassifieds of property, motors and retail, as well as buoyant colour ROP, more thanoffsetting still-weak recruitment/financial advertising."
INM's share price has performed particularly well since it announced a [euro]315m recapitalisation programme.
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