Independent News & Media Regulatory News (INM)

30 Oct 2007 15:35

Independent News & Media PLC30 October 2007 INM'S INDIAN ASSOCIATE REPORTS Q2 FY07/08 REVENUES UP BY 23.40% NET PROFIT UP BY 25.47% Ticker: (Reuters) INWS.I / INWS.L and (Bloomberg) INWS ID / INWS LN This announcement replaces previous annoucement issued at 15.06 today Q2 FY07/08 Results (all comparisons with Q2 FY06/07) • Operating revenues at Rs 1.8 billion (€31.9 million), up by 23.40 % from Rs 1.4 billion • Advertisement revenues at Rs 1.1 billion (€21.0 million), up by 24.77% from Rs 0.9 billion • EBITDA at Rs 427.3 million (€7.7 million), up by 19.02% from Rs 359.0 million • PAT at Rs 220.0 million (€4.0 million), up by 25.47% from Rs 175.4 million • EPS (non-annualised) of Rs 3.65, up by 25.47% from Rs 2.91 • Operating profit margin increased to 22.02% from 20.85% • PAT margin increased to 12.17% from 11.73% H1 FY07/08 Results (all comparisons with H1 FY06/07) • Operating revenues at Rs 3.6 billion (€64.8 million), up by 28.80% from Rs 2.8 billion • Advertisement revenues at Rs 2.4 billion (€43.7 million), up by 33.21% from Rs 1.8 billion • EBITDA at Rs 1.0 billion (€18.5 million), up by 35.55% from Rs 760.6 million • PAT at Rs 567.2 million (€10.2 million), up by 40.28% from Rs 404.5 million • EPS (non-annualised) of Rs 9.42, up by 40.28% from Rs 6.71 • Operating profit margin increased to 25.10% from 22.76% • PAT margin increased to 15.20% from 13.83% Stock Split / Interim dividend • Board recommended subdivision of face value of equity shares from Rs. 10 per share to Rs. 2per share • Declared interim dividend of 50% or Rs 5 per share Jagran Prakashan Limited (JPL), publishers of 'Dainik Jagran', India's largestread daily (Source: IRS 2007 Round 2), has reported net operating revenues ofRs. 1.8 billion (€31.9 million) for Q2 FY07/08, an increase of 23.40% over thecorresponding quarter of the previous year. The net profit of Rs 220.0 million(€4.0 million) showed a sharp increase of 25.47%, from Rs 175.4 million in thecorresponding quarter of the previous fiscal year. The EPS (non-annualised) forthe quarter at Rs 3.65 was up 25.47% on the corresponding quarter of FY06/07. Advertising and circulation revenues from the publishing business continue toshow robust growth, with increases of 24.77% and 8.35% respectively on the prioryear. The increase in advertisement revenue was driven by a combination ofhigher rates and an increase in total space sold, with the increase incirculation revenue being driven mainly by an increase in circulation volumes. For the 9th time in a row, Dainik Jagran is the most widely read newspaper inthe country, with a significant gap over its closest competitor (IRS 2007-R2). I-Next, a newspaper launched in the third quarter of the last fiscal in Kanpurand Lucknow, made significant improvements in the current quarter, both in termsof newspaper sales and advertisement revenue. It has expanded the market sizeand has recorded circulation volumes in excess of expectations in a short periodof time. City Plus, another newspaper brand launched in the outskirts of NewDelhi in the second quarter of the previous year, has expanded into New Delhiand Bangalore and has continued to progress well. Out of Home Advertising (OOH) and the Event Management division continued toscale up their operations. J9, a newly created and dedicated arm of JPL topursue its initiatives in mobile and web space, has started to generate goodrevenues, with plans to add additional services, such as a classified verticalin web space, to its range of products in the near future. STOCK SPLIT & DIVIDEND The Board of Directors recommended a sub division of equity shares of face valueof Rs 10 each into 5 equity shares of face value of Rs 2 each. This willincrease the company's number of shares in issue to 301 million, from thecurrent 60.2 million, after the approval of shareholders. The Board ofDirectors has also announced the payment of an interim dividend of 50% (Rs 5 pershare) on equity shares of the face value of Rs 10. Commenting on the results, Mr. Mahendra Mohan Gupta, CMD of JPL said "We aredelighted to announce interim dividend @ Rs 5 per share and Stock split in theratio 1: 5 for our shareholders. The split will make stock more attractive to abroader investor base. The overall business has continued to progress as planned. We expect significantcontributions from our various non-publishing initiatives in top as well asbottom line in times to come, with growth momentum remaining intact inpublishing business in foreseeable future. The success of I-Next is hearteningand demonstrates once again the high credibility and acceptability of the workof the company amongst the readers, hawkers and advertisers alike. We aregrateful to all of them to make it success." HIGHLIGHTS OF THE QUARTER • For the 9th successive time, Dainik Jagran continues to be the No. 1newspaper in the country (IRS-2007 R 2). • I-Next launched in Meerut and attains critical circulation numbers inKanpur and Lucknow. • City Plus launched in New Delhi (3 editions) and Bangalore (1 edition) • J9, the mobile VAS division of JPL, has launched J9 shop. • Co-branded Hindi news portal jagran.yahoo.in launched in associationwith Yahoo India. Dublin/ London - 30th October 2007: Ends. 30th October 2007 For further information, please contact: Gavin O'Reilly Chief Operating Officer +353 1 466 3200Donal Buggy Chief Financial Officer +353 1 466 3200 +------------------------------------------------------------------------------+|Media |+--------------------------+------------------------+--------------------------+|Pat Walsh |Rory Godson |Paul Keary |+--------------------------+------------------------+--------------------------+|Murray Consultants |Powerscourt Media |Financial Dynamics (New ||(Dublin) |(London) |York) |+--------------------------+------------------------+--------------------------+|Tel: +353 1 498 0300 |Tel: +44 207 236 5619 |Tel: +1 212 850 5600 |+--------------------------+------------------------+--------------------------+|Investors and Analysts | | |+--------------------------+------------------------+--------------------------+| | | |+--------------------------+------------------------+--------------------------+|Mark Kenny/ Jonathan | | ||Neilan | | |+--------------------------+------------------------+--------------------------+|K Capital Source (Dublin) | | || | | |+--------------------------+------------------------+--------------------------+|Tel: +353 1 631 5500 | | |+--------------------------+------------------------+--------------------------+|Email: | | ||INM@kcapitalsource.com | | |+--------------------------+------------------------+--------------------------+ About Jagran Prakashan Limited Jagran Prakashan Limited is a leading media house of India, which publishesDainik Jagran, India's largest read daily with a total readership of 53.6million readers per week (IRS 2007 R2). It was also voted the most credible andtrusted newspaper in India, according to a survey by Globscan, conducted in 10of the world's leading countries, including the US, UK, Germany and Russia. Established in 1942, Dainik Jagran was the brainchild of the Indian Freedomfighter, Late Shri Puran Chandra Gupta. The first edition was launched fromJhansi, Uttar Pradesh in 1942. Dainik Jagran is now published in 31 editionsacross 11 states from 29 different facilities. The company also publishes twomore youth oriented newspaper brands viz. I-Next, a daily bilingual compact, andCity Plus, an English infotainment weekly compact, besides publication of Sakhi,a monthly magazine targeted at women. The group also publishes Jagran Varshiki,an annual general knowledge digest, and various national and state statisticalcompilations. Jagran Engage provides specialized 'Out of Home' advertising services, with apan-India footprint. Jagran Solutions provides below the line activities likepromotional marketing, event management and on ground activities having panIndia presence. J9 provides IVR/AVR/SMS services through its short code service57272 and is also into web space. The company's Hindi news portal,www.jagran.com (which is in the process of transitioning to the co-branded site,www.jagran.yahoo.in, in association with Yahoo India), is the most visited Hindiportal in the world. Independent News & Media PLC ('INM') is a leading international newspaper andcommunications group, with its main interests in Australia, India, Ireland, NewZealand, South Africa and the United Kingdom. Spanning four continents, 10 majormarkets and 21 individual countries, INM has market-leading newspaper positionsin Australia (regional), India, Ireland, New Zealand and South Africa. In theUnited Kingdom, it publishes the flagship national title, The Independent, aswell as being the largest newspaper group in Northern Ireland. Across these regions, the Group publishes over 180 newspaper and magazinetitles, delivering a combined weekly circulation of over 31 million copies witha weekly audience of over 100 million consumers and includes the world's largestread newspaper, Dainik Jagran, in India. The Group has established a strong andgrowing online presence, with over 100 editorial and classified sites. INM is the largest radio operator - over 130 stations and an audience of almostsix million people - and outdoor advertising operator in Australasia and alsohas leading outdoor advertising positions in Hong Kong, Malaysia, India,Indonesia and across Africa. The Group has grown consistently over the last 15 years by building ageographically unique and diverse portfolio of market leading brands, and todaymanages gross assets of €4.1 billion, revenue of €1.8 billion and employsapproximately 9,600 people worldwide. Further information is available on theGroup's website www.inmplc.com. This information is provided by RNS The company news service from the London Stock Exchange