24 Feb 2010

APN profit up, but revenue down in NZ

7:19 am on 24 February 2010

Newspaper publisher and radio station operator APN News and Media says its exposure to the greater Auckland market should help its recovery take hold sooner

The company made a net profit of $A92.6 million in 2009, compared to a $A23.9 million dollar loss in 2008.

Revenue at APN's New Zealand operations, which include the New Zealand Herald, and the Herald on Sunday, fell 10% during the year.

However APN chief executive Brendan Hopkins says the publishing market in New Zealand is already showing signs of picking up and expects the company's Auckland based businesses to perform better than its regional businesses.