The depressed media advertising market is showing some signs of recovery according to Independent News and Media.
In a trading statement published today, the Irish owned media group said that while advertising volatility has become more pronounced since September 11th, total advertising revenues for the full year are expected to be only down 1 per cent on last year.
"Immediately following September 11th, our total advertising revenues did contract somewhat - but by less than 4 per cent year-on-year. However, in recent weeks, advertising has shown an improvement," the statement said.
"Despite a somewhat fickle and hesitant advertising market, advertising visibility is improving and circulation revenues remain very positive," the statement added.
The group was upbeat on its prospects for the year ahead and reported that its worldwide operations continue to outperform its media peer group.
The group said that strong circulation volumes and price increases in many of its 200+ titles have enhanced revenues and have more than offset the recent volatility in advertising seen early in the fourth Quarter.