Internet growth lifts Yell Group

Yell's position in the UK has come under focus

Directory publishing group Yell has reported rising revenues and profits, helped by strong growth in the US and at its Yell.com website.

The company said revenue for the nine months to 31 December rose 23.7% to £1.1bn ($1.95bn), while pre-tax profits were up to £220m from £173m.

Yell added it was "firmly on track" to meet forecasts for the full year.

However, its shares have recently been hampered by uncertainty associated with a Competition Commission inquiry.

Last month, Yell shares dipped as competition fears were sparked after the regulator found the firm had a "strong" position in a "highly concentrated market".

Regulators said it was so dominant in the market that its rivals were struggling to compete.

The commission said it had not yet reached a decision on whether to intervene in the directories market, but was assessing if action was needed.

But Yell dismissed fears that the regulator might seek to break it up.

"We found it hard to recognise the markets we participate in as the one they describe," said chief executive John Condron.