APN reports healthy growth

APN News and Media, the Australia/New Zealand media company in which ISEQ-listed Independent News and Media has a 39.76% shareholding, reported its 2004 interim results yesterday.

APN News and Media, the Australia/New Zealand media company in which ISEQ-listed Independent News and Media has a 39.76% shareholding, reported its 2004 interim results yesterday.

Since then, the company says, trading across the group has remained positive. All major divisions continue to perform well and Q4 is trading in line with expectations.

Advertising yields in the group’s New Zealand newspapers showed a near double-digit increase in Q3, compared to the same period in 2003.

Circulation for The New Zealand Herald in the six months to September 30 was up by more than 1,000 copies on the corresponding period last year, to more than 208,000.

The Herald on Sunday was launched on October 3 and has achieved average weekly circulation of more than 115,000 copies, ahead of expectations.

Divisional revenues in local currency were ahead by 8% and EBIT by 14% compared with Q3, 2003.

In Australia, advertising in the key categories of employment, real estate and retail remained strong across the 14 daily newspapers.

APN now publishes the seven fastest-growing daily newspapers in Australia.

Circulation in the six months to September 2004 was steady overall.

Divisional revenues were ahead by 10%, with strong double-digit EBIT growth compared with Q3, 2003.

The company believes it will be in line with the recently-increased net-profit-after-tax forecast of A$129m (€77.4m).

Independent News and Media began today’s trading on the ISEQ at €2.26.

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