Independent News & Media today reported pre-tax profits of €189m for last year, up 55% on 2003.
The publisher said strong growth in advertising revenue had boosted earnings.
It forecast earnings per share (EPS) jumping 14 per cent this year as it posted forecast-beating 2004 results.
"The outlook statement is a bullish statement but to achieve a 14 percent increase in earnings you've got to be bullish," Chief Financial Officer Mr Donal Buggy told reporters in an interview after the company posted a 12 per cent earnings rise for 2004.
He added that he was comfortable with analyst expectations that profits would hit 16.1 cents per share this year.
Independent News said earlier that excluding exceptional items and amortisation, EPS rose 12 per cent last year to 14.15 cents from 12.63 cents in 2003, beating a 14 cents median analyst estimates.
"Following record results in 2004, trading in 2005 has continued the same positive trend with all operations showing strong revenue and profit growth," chief executive Anthony O'Reilly said in a statement.
Revenues at the owner of London daily The Independent and the Belfast Telegraph in Northern Ireland rose 14.2 per cent to €1.557 billion, above the €1.52 billion expected by analysts.
The company said in December that sales would easily surpass the 2003 level after new compact editions of the Independent newspaper in Ireland and the UK and strong local economies lifted circulation and advertising revenues by about 10 per cent.
Following a recent deal to buy a 26 per cent stake in Indian newspaper publisher Jagran Prakashan Pvt, chief operating officer Gavin O'Reilly told reporters he was confident the company could achieve its earnings goals without more acquisitions.
"We're extremely happy with the asset pool that we have ... I don't think there's really any pressure on us to rush out and start acquiring assets."