Mediahuis, the Belgian newspaper group which is seeking to expand its Dutch portfolio by buying TMG, publisher of Holland’s largest newspaper the Telegraaf, reported 2016 net profit 10.7% higher at €21.7m on flat turnover of €398.6m.

Mediahuis said half of the earnings increase was derived from  its Dutch quality paper NRC Handelsblad.

Mediahuis is locked in the battle for TMG with Talpa, the investment vehicle of Dutch television poducer John de Mol. Mediahuis already owns the Limburger in the southernmost Dutch province.

Should Mediahuis succeed in acquiring TMG it would become the second-largest newspaper group in the Netherlands.  The largest is another Belgian holding company Persgroep which owns the Volkskrant, AD and Trouw.