Updated, 20.59
TWO REGIONAL NEWSPAPERS were the only printed news publications to increase sales in the first six months of 2011.
The Audit Bureau of Circulation released figures which the Press Gazette says show that the Roscommon Herald and the Enniscorthy Guardian have increased their sales by 9.3 per cent (to 8,640) and 5.6 per cent (to 7,277) respectively.
The Roscommon Herald is owned by Thomas Crosbie Holdings and the Enniscorthy Guardian is owned by Independent News and Media (INM).
INM reported today that its operating profit had fallen by €2.3m in the first half of 2011. It reported to shareholders that group revenue had fallen 12.3 per cent. Advertising revenues were “subdued”, its figures found, and operating costs are to be “aggresssively managed”, with the company already managing to reduce them by €6.6m.
INM chief Gavin O’Reilly said the results came in “remarkably tough advertising and consumer markets”. The report also said:
As part of the Group’s focus on eliminating loss-making activities, the Irish Daily Star Sunday, in which INM was a 50% shareholder, and the Sunday Tribune, in which INM was a 29.9% shareholder, ceased publication in January and February 2011 respectively.
The tough market conditions have clearly had a similar effect on other titles in Ireland. All other papers (excluding freesheets) dropped circulation from January to June, with the Cork Evening Echo (10.2 per cent) seeing the worst daily drop; the Sunday World (7.6 per cent), Sunday Business Post (3.6 per cent) and Sunday Independent (3.6 per cent) seeing the worst decreases for Sunday titles; and the Leinster Leader experiencing the worst decrease (19.8 per cent) of all publications.
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