Independent News & Media has said it expects total revenue to grow by around 3% this year compared with 2006.
The group brought forward its trading statement by just over a week, saying it wanted to confirm its strong trading performance to the market, following 'recent negative commentary' on the advertising market.
Independent said it expected advertising revenues from newspapers and online operations to be up by 4%, with all markets ahead of the previous year, while revenue from newspaper circulation would rise by 1%. The company said online revenues would be up by around 70%.
INM also said its restructuring programme was 'virtually complete' and in line with targets.
Earlier, it emerged that businessman Denis O'Brien had upped his stake in INM to 14.5%. Up until Monday, Mr O'Brien owned just over 12% of the company, but he has spent €40m on shares in the last few days.
He started accumulating his stake in 2006 and is now the second biggest shareholder in the group behind Anthony O'Reilly and his family who own 27% of Independent.
