Independent News and Media's 40.7 per cent owned Australasian subsidiary, APN News and Meida, yesterday said it was confident of making A$100 million (€59.4 million) after-tax profits this year.

In a trading statement published ahead of meeting fund managers and analysts today, the company said it had experienced consistent growth across all its major markets in the current quarter.

"Forward bookings are encouraging and advertising across the major divisions remains bouyant," APN said. "These conditions are expected to offset the impact of a weakening New Zealand dollar, and accordingly, the company remains confident of matching or exceeding the consensus net profit after tax forecast of A$100 million for the current year."

It said the recent improvements in advertising looked set to provide further benefits.