In an upbeat trading statement, the company, which publishes The Independent and the Independent on Sunday in the UK, has said it expects operational profits for 2001 to be in line with the year ending December 2000.
It also says that company restructuring, including the acquisition of the Belfast Telegraph Group and the folding of its New Zealand operation into Australia's APN News & Media (45%-owned by Independent) will lead to "a substantially reduced interest charge for 2002".
In October, Independent, which is listed on the Irish and London Stock Exchanges, saw its share price hit a low of €1.52. Yesterday, its shares were trading down at €1.97, a fall of 3.9%.
The company is headed by chairman Sir Anthony O'Reilly, who holds a 25% stake in the company.
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