The Independent’s chief executive, Ivan Fallon, was upbeat as he
announced his paper’s advertising revenues had risen 18.5 per cent in
the first half of the year – despite increased tabloid competition from
The Times.
Fallon said the same rate of growth was continuing
into the second half, adding: “The Independent has been in better shape
than it has been for years, editorially and in terms of sales and
advertising.”
He was equally sure that The Independent would hold its own in the face of The Guardian’s relaunch in Berliner format last week.
Fallon
said the Indy and The Independent on Sunday would reduce losses this
year from last year’s £10m deficit and, depending on the advertising
market, would break even in the second half of 2006.
Related
Independent
News & Media, The Independent’s parent company, reported record
interim profits for the six months to June. Its UK operation had a
revenue lift of 4.2 per cent over the same period last year to E104.3m
(£70.6m). There was an eight per cent operating profit .
The
Belfast Telegraph, which launched compact editions this year, was said
by the company to be the best performing regional newspaper in the UK
(ABCs January-June 2005).
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