Business Services Industry
APN News and Media Ltd (APN) $3.71.
Australasian Business Intelligence, August, 2003
Aug 20, 2003 (Your Money Weekly - ABIX via COMTEX)
A "hold" recommendation has been placed on APN News & Media, which is fully-valued at current prices. The after-tax net profit of the Australian diversified media group rose by 24 per cent, to $A44.7 million. Its operating revenue improved by 14.2 per cent. APN's Australasian newspaper and radio divisions recorded good results. APN's outdoor media unit achieved an eight per cent rise in EBIT. The unit should benefit from the recovery of the advertising market. Management says the firm will achieve double-digit profit growth in calendar 2003.
Publication Date: 14 August 2003
APN NEWS AND MEDIA LIMITED - ASX APN
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