Profit before tax and exceptionals came in at £102.9m in the year ending December 2003. Turnover was also up 6% to £924.4m.
Independent executive chairman Sir Anthony O'Reilly said in a statement that a year of heavy strategic investment had left each of the group's core operations well positioned for the future.
"Trading in 2004 has started positively, and given a continuation of current trading conditions, the board remains confident of further improvement in underlying profitablility for 2004, and we believe that our shareholders can look forward with confidence to the future," he said.
The Independent was named national newspaper of the year at the British Press Awards recently and honoured for its "heroic decision" to launch a tabloid version of its broadsheet. In the latest set of ABC figures the paper appeared to be snatching circulation from its closest rival The Guardian. The paper posted an impressive 3% rise to 256,378. Year on year the paper is up 7.6% and has posted an increase every month since September 2003.
The Guardian's circulation is continuing to slide, dropping 3.5% in February to 369,726 and making it the biggest loser in the quality daily market during the month.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .
_1.jpg)
.jpg)
