A 44 per cent rise in first-half digital advertising sales offset print declines at Independent News & Media (INM), driving adjusted pre-tax profit up 14 per cent to €15.1m (£11.1m). The Irish Independent publisher also sold its stake in Australasian media group APN to Rupert Murdoch's News Corporation (US: NWSA), meaning it swung from net debt of €95m to €35.4m of net cash.
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Average unique monthly visitors rose about 19 per cent to 8.6m as INM continued to invest in its more than 35 editorial, classified advertising and transactional websites. It also partnered with online gambling group Nektan to offer real-money casino games on smartphones, tablets and desktop PCs.
Prior to these results, broker Liberum forecast EPS of 2.3¢ for 2015.
