Online-only Independent's revenues jump 75 per cent in year newspaper titles were closed

 
William Turvill
Follow William
BRITAIN-MEDIA-INTERNET-INDEPENDENT
The Independent went online-only last March when its newspapers were closed (Source: Getty)

Online news website the Independent increased its revenue by nearly 75 per cent in the year its sister newspaper titles closed.

Independent Digital News and Media has reported a turnover of £14.3m in the year to 2 October 2016, up from £8.2m.

The group’s operating profit, meanwhile, was reported at £1.7m, up 31 per cent from £1.3m in the year to 27 September 2015.

The Independent and Independent on Sunday newspapers lost £7m in their last full year, to September 2015, with the titles closed down in March last year.

The website and newspapers were split into two separate entities in 2010.

The Independent, which operates independent.co.uk and indy100.com, attributed its online revenue growth to “significant digital audience growth both in the UK and internationally”.

Companies House accounts show the company, buoyed by traffic from Brexit and the US election, attracted 187.4m UK page impressions, up 20 per cent.

The Independent said its advertising and partnerships revenue was up 51 per cent during the year.

Meanwhile, its sister print title, the Evening Standard, reported a 32 per cent drop in operating profit, from £3.3m to £2.2m as its costs increased.

Evening Standard Limited’s turnover remained steady at £71m, but its distribution costs grew from £11.5m to £12.9m.

Both the Independent and Evening Standard are owned by Evgeny Lebedev.

Read more: News veteran lines up cash for Express bid