Newspaper advertising revenues grew by 9.89 per cent in the final quarter of 2003, in line with industry predictions. Edward Power reports.

Total advertising spend for the year was 253 million, a 0.28 per cent year-on-year rise, said the National Newspapers of Ireland, which represents the 12 national titles.

But there was significant improvement during the 12 months, with revenues down 10 per cent year on year in the first quarter, but recovering strongly later in the year, in line with the economic pick-up. Direct revenues were €121 million, just behind earnings from agencies of €132 million.

This reflected greater economic buoyancy - particularly in property and retail - and better spend in financial, motors, recruitment and general classified, said NNI.

NNI chairman Mr Gavin O'Reilly said the improved revenues showed that the economic recovery was finally reaching the newspaper market.

He said: "Despite a slow start to 2003, newspaper advertising spend has picked up progressively and ended the year on a high note, with the final quarter showing significant gains of almost 10 per cent, strongly indicating that a sustainable recovery has commended." Newspapers had emerged "stronger, leaner and more resilient" from the 2001-02 advertising recession.