Independent News and Media (INM) has announced its new online strategy that will see it bring together recruitment services, coupon and car sales to its existing offering. The “aggressive” overhaul has been further augmented through the hiring of former Sunday Tribune editor Noirin Hegarty as online editor, according to a report in today’s Irish Times.
The second quarter of this year will see the integration of carsireland.ie, a job portal powered by Stepstone and coupon service GrabOne in association with APN.
INM has recorded a 14% increase in underlying operating profit to 87.9 million. Revenue was also up 3.3% to €605 million. The group, however, stated it did not expect advertising revenues to rise this year, but would rely on a leaner operation to grow profits. The figures do not take into account the recent closure of Irish Daily Star Sunday and Sunday Tribune, both of which INM was a significant stakeholder in.
INM, which has interests in Ireland, New Zealand, Australia and South Africa, is 50% owned by bondholders.
Chief executive Gavin O’Reilly said: “Assuming more normalised advertising conditions, easier comparatives, continued cost vigilance and having eliminated loss-making businesses, we are targeting a further improvement in operating profit for the year.”
INM’s total operating profit before exceptionals was €221.8 million, broadly in line with previous guidance of a range of €220 million to €225 million. Advertising revenue so far this year is down 7% and circulation down 1%.
Subscribers 0
Fans 0
Followers 0
Followers