2008 profits dip for Star publisher

Friday 14 August 2009 08.09
INM - Difficult conditions for Star company
INM - Difficult conditions for Star company

The publisher of the Irish Daily Star and Irish Daily Star Sunday titles has reported a fall in profits for the year to December 26 2008.

Independent Star Ltd recorded a trading profit of €6.8m, down 6.8% from the previous year. The company is an equal joint venture between Independent News & Media (INM) and Britain's Express Newspapers group.

Circulation for the paper's titles also showed a decline, with the daily title recording an average ABC figure for 2008 of 107,227, down 1.7%, while the Sunday reported an average 2008 ABC of 60,637, a decrease of 4.3%.

Managing director Paul Cooke said there were difficult trading conditions, particularly in the second half of the year, but the profit performance demonstrated 'the resilience and strength of the Star's brand'. Mr Cooke said that the company was trading profitably and in line with budget in 2009.