APN News & Media, the media group in which Independent News & Media has a 32% shareholding, has released its results for the six months to the end of June.
Its net profit was up 11% from a year earlier to A$40m, while the group said its underlying revenue rose by 5%.
APN chief executive Brendan Hopkins said the advertising recovery was 'well and truly underway'. He said APN recorded strong growth in the second quarter of the year, with revenue 8% ahead of a year earlier.
Mr Hopkins said APN's markets in Australia were already recovering from the financial crisis, and though New Zealand had not achieved the same results, trends there were encouraging.
Shares in Independent News & Media closed 2.3% lower at 68 cent in Dublin this evening.
