The Week: City News - INM profits fall 37 per cent

Independent News & Media has said that it has witnessed a stabilisation in the advertising market, despite reporting a 37 per cent year-on-year fall in operating profits for the 12 months to 23 October.

The company, which publishes The Independent and The Independent on Sunday, said ad revenues fell 19 per cent, compared with 19.6 per cent in the first half.