INM Announces Interim Results for 2001

Turnover increased to a record EUR656 million (up 4.2%) and all regions delivered enhanced margins. In constant currency terms and excluding exceptional costs, profit before tax was marginally ahead of last year. Profit before tax at EUR57.6 million was down 17.2% due to adverse currency movements, exceptional start-up costs and the increased financing charges arising from both the acquisition of Belfast Telegraph Newspapers and the investment in the new Irish printing facility at Citywest. Fully diluted earnings per share** were up 2.0% to a record 7.68c and the interim dividend increases 10% to 2.75c per share.

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