Flat INL profit predicted

WELLINGTON - Analysts expect Independent Newspapers (INL) to report a flat to slightly lower net profit for its full fiscal year ended June 30, despite a pick-up in advertising revenues in the second half.

The company, which is 49 per cent owned by Rupert Murdoch's News Corp, will report full-year earnings on Friday.

A First Call survey of analysts has forecast earnings at 42c a share.

INL reported a net profit of $50 million, or 43c a share, last fiscal year. - NZPA