INM profit after tax down almost 30pc
September 23, 2006
INM profit after tax down almost 30pc. Check it out:(Daily Mail Via Thomson Dialog NewsEdge) INDEPENDENT News and Media (INM) has reported profit after tax and exceptionals of 7.3m for the six months to June 30, down 29.7pc on the 2005 figure of 24.1m.
However, the company pointed out that the decrease was accounted for by the boost last year from the windfall sale of phone services company iTouch for 2.7m. It also reported a rise in pre-tax profits of nearly 11pc to E114m on the back of a 4pc rise in group revenues to 97m.
The company said all of its markets contributed to growth, with price increases leading to a 5.5pc increase in circulation revenue from newspapers.
Advertising growth was slightly slower at 3.8pc.
In Ireland, profits were up 4.5pc to 6.7m, with revenues up 2.3pc. INM said advertising growth was 'in line with the market' while circulation growth was ahead of last year's first half.
Ryanair Bremen base set for takeoff in 2007
NO- FRILLS airline Ryanair is to begin flights from Bremen in April 2007, its 17th European base.
The airline said that it is to invest 65m in three Boeing 737-800 aircraft, nine new European routes and the purchase of a low-cost terminal facility at Bremen Airport for m following an EU tender in which the Irish airline was the successful bidder.
From April 2007, Ryanair will base two Boeing 737 aircraft in Bremen followed by a third in September 2007, creating 150 direct jobs.
To celebrate the launch of the new routes the airline said it is offering 50,000 seats from Bremen for E1 for travel in May and June 2007.
3 claims 80pc cover
MOBILE phone network 3 Ireland has claimed that more than 80pc of the population can now access its mobile media services. Ireland's fourth mobile operator and 3G specialist said about 3,200,000 consumers throughout the country have access to its 3G network. David Hennessy, 3's head of network development said: 'Our strategy has always been to roll out the most advanced network in the country.'
ComReg seeks views
COMREG has called for input on its review of the markets for retail fixed calls.
The watchdog is obliged to carry out the survey under new EU telecoms laws.
ComReg proposes to define four national markets. It is seeking opinions on whether there is effective competition in these markets and whether current law is adequate to address market failures.
The deadline for comments is October 31.
Caudwell carve-up
THE .2bn sale of mobile phone retailer Caudwell Group to Doughty Hanson and Providence Equity Partners has been cleared by the EC. The Caudwell Group owns Irish mobile handset trader 20:20 Logistics. Doughty Hanson will retain the 20:20 Logistics Distribution Group, to be renamed the 20-20 Mobile Group, and Providence Equity Partners will acquire the Phones4U Group.
.5m biotech funds
ENTERPRISE Ireland is to invest .5m in projects to develop technologies to drive new biotech businesses.
The technologies that emerge will form the basis for new start-up companies or will be licensed into existing companies in Ireland to improve competitiveness.
The 11 research projects funded range from nanosensors for diagnosing cardiovascular disease to cancer treatments.
Copyright 2006 Daily Mail. Source: Financial Times Information Limited - Europe Intelligence Wire.
Related Tags: mobile, group, ireland, Bremen, Group, bremen
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