Independent News & Media has reported interim operating profit up 4.9 per cent year on year to £147.9 million on turnover up 3.6 per cent to £796.7m.
In the UK, the company reported revenue up 3.4 per cent to £107.8m for the first six months of 2006.
The latest trading update from the Ireland-based media company said The Independent on Sunday had the best circulation growth of any British newspaper so far in 2006 and that The Independent readership was at a nine-year high.
The IN&M report said: "The Independent continued to buck the negative market trend and has shown a one per cent growth in advertising revenue in the first half, compared with significant declines reported by most of its UK national newspaper peers."
In Belfast, where the company publishes The Belfast Telegraph, there have been "significant headcount and cost reductions".
The Independent also this week revealed plans to become the first British newspaper to be printed in India.
Pending Government approval, the facsimile version of the paper will be printed on the presses of Jagran Prakashan — India's largest newspaper company, in which IN&M has a 20.8 per cent stake. The title is hoping for sales of 5,000 a day.