August 14, 2008
APN Matches Its Expectations
Australasian media group APN News & Media (APN) has reported expectation-meeting quarterly results and confirmed it was "comfortable" with consensus forecasts for full-year earnings.
The group reported a 2.5% rise in revenue to A$624.5m (EUR 366.7m) for the quarter ending June 30, while earnings before interest and tax (EBIT) were almost static at A$139m (EUR 81.6m).
Asia was APN's knockout performer for the period, with revenue rising 20.9% and EBIT soaring 75% as the group makes its mark on emerging economies. The results and earnings outlook were well received in both Australia and Dublin, which also welcomed APN's decision to declare a dividend.
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