Independent News & Media PLC has announced the Group’s full year results for the 12 months ended 31 December 2011. They are in line with prior market guidance.
A detailed presentation on these results is available on the Group’s website inmplc.com.
Highlights
- Operating Profit, pre-exceptionals, of €75.5 million (-8.6% on 2010)
- Underlying Revenue down 5.6% (Reported Revenue down 10.9% on 2010)
- Operating Costs were reduced by 11.3% to €482.5 million, despite a significant newsprint price increase in Island of Ireland and investment in digital
- EBITDA of €102.2 million (including dividends received of €15.8 million)
- Operating Margin of 13.5%, up 30bps on 2010
- Continued progress in digital, with underlying revenue growth of 9.6%
- Expansion of Irish Education business through acquisition of International House Dublin
- Earnings Per Share (pre-exceptionals) of 9.8 cent
- Continued significant reduction in Net Debt, down by €46.8 million (9.9%) to €426.8 million
*Underlying – in constant currency, excluding The Independentand Independent on Sunday titles in the UK (disposed of in April 2010) and compares 52 weeks in both 2011 and 2010
UK, London & Ireland, Dublin
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