INDEPENDENT STAR Limited, the company which publishes the Irish Daily Star newspaper and its sister title the Irish Daily Star Sunday, has reported a 25 per cent increase in operating profits from €5.226 million to €6.514 million, according to results just published for the year ended December 28th, 2007. Ciarán Brennanreports.
Profits for the company have increased by a cumulative 151 per cent since 2004, making this profit performance the highest ever for the company, it said.
Net margins rose from 13.5 per cent to 15.7 per cent for the year just ended. The record profits enabled the company to increase the dividends paid to shareholders from €5 million to €6.6 million.
Independent Star Limited is a joint venture between Independent News Media and Express Newspapers group.
Circulation for the paper's titles also recorded substantial year on year growth, according to the company.
The daily title recorded an average ABC for 2007 of 109,054, a rise of 4.2 per cent increase on 2006 figures. The Sunday title reported an average 2007 ABC of 63,339, an increase of 6.8 per cent on the previous year.
