Independent News & Media has reported pre-tax profits of €52.4m for the first half of the year, up from €51.7m in the same period last year.
Turnover rose by nearly 4% to €659.6m, while operating profits before exceptional items grew by 3.8% to €106.6m. Adjusted earnings per share increased by 7% to 6.09 cent, while a 5.4% higher interim dividend of 2.75 cent has been declared.
The company said advertising revenue was 6.8% higher in local currencies, while circulation revenue grew by 8%.
Executive chairman Tony O'Reilly said the group was well placed to deliver an improved full-year result in line with market forecasts.
Turnover in the company's Irish operations was up 2% to €176.3m, but operating profits fell slightly to €37.7m in a tougher advertising environment, though INM says there are signs of improvement. Price increases boosted circulation revenues by 3%.
In Australasia, profits at APN News & Media rose by 24% in Australian dollars, with revenue up 16%, reflecting improved trading conditions. South African profits were up 13.5%, with revenue 11% higher.
A 3.3% drop in UK advertising revenue lowered profits and revenue there to £5.7m sterling and £72.6m respectively. Losses at the group's minority interests grew from €22.1m to €25.2m.
Shares in the company closed six cent lower at €1.65 in Dublin.
