Business Services Industry
AUSTRALIA'S APN NEWS & MEDIA UNVEILS 87% SURGE IN NET PROFIT.
AsiaPulse News, March, 2003
SYDNEY, March 4 Asia Pulse - Australia's biggest regional newspaper group APN News & Media Ltd (ASX:APN) is confident it can produce higher earnings again in 2003.
APN today unveiled an 87 per cent surge in net profit to A$90.2 million (US$55.3 million) for calendar 2002 thanks to a strong second half performance by its publishing business in Australia and New Zealand.
So far in the first quarter of 2003, each of APN's five divisions are "significantly ahead" of the same period in 2002.
Chief executive Brendan Hopkins said as long as the current market conditions prevailed, APN believes "an improvement in results in 2003 is likely".
He added that APN expects to enjoy total advertising revenue growth of between five and six per cent in the...
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