Dublin-headquartered Independent News & Media is promising “a meaningful improvement in earnings for 2003” after reporting a revenue increase.

IN&M – the fiefdom of former beanz baron Sir Tony O’Reilly – told investors that takings from both circulation and advertising have risen at its newspapers around the globe.

It revealed “progressive enhancement in advertising volumes and rate,” especially at its businesses in South Africa, Australia and New Zealand.

And despite a year-on-year fall in sales of British papers The Independent and Independent on Sunday, it added: “Circulation revenues – throughout the world – continue to show good advances on 2002, reflecting the impact of cover price increases on the previous year, with increases in market share being achieved.”

IN&M has also raised over £130 million ($216m; €187m) from a rights issue and asset sales – though the disposal of 45 regional titles in London awaits the approval of competition watchdogs.

Data sourced from: MediaGuardian.co.uk; additional content by WARC staff