On August 15, publicly-listed, APN News & Media Limited (ASX:APN (NZX:APN), owner of digital broadcast radio networks, ARN in Australia and TRN in New Zealand, reported first half year results.
For the six months ended June 30, 2006, APN News & Media Limited reports record Interim Net Profit After Tax and after NRIs of A$72.1 million for the 6 months ended June 30 2006, up 9% on the prior year. Record APN Interim Profit is up 9%; with Earnings Per Share up 12% and Dividend Per Share up 10%.
Its radio divisions in both Australia and New Zealand are doing well.
APN says its Radio Division consolidated earnings after several periods of strong performance, with EBIT up 2% for the half, and up 4% when adjusting for changes in currency.
In Australia, the Australian Radio Network (ARN) built on the success of its performance in the commercially important 25-54 demographic, is grew its share of agency advertising revenue by 15% over the same period as last year.
In a moderating market, ARN says it successfully retained its existing clients, as well as recruiting new clients who were not traditionally heavy users of radio.
The network’s two music networks of ARN Classic Hits and ARN Mix grew share in the 25-54 year olds for the combined Sydney, Melbourne, Brisbane and Adelaide radio markets by 9% over the past three radio audience surveys.
In New Zealand, The Radio Network (TRN) continued to lead the terrestrial broadcasting industry, growing market share across the country.
TRN operates the top 3 radio stations in the major Auckland broadcast market, achieving a total audience share of 49.9% for the first ratings survey of the year.
TRN also operates the number 1 radio stations in both Wellington and Christchurch.
TRN’s total radio audience share across New Zealand was up 1% to 46%.
The group achieved a total 50% audience share in five of the 13 surveyed markets.
As a backgrounder, APN News & Media Limited (ASX:APN,NZX:APN) is the publisher of The New Zealand Herald and is the largest operator of regional newspapers, digital radio broadcasting and outdoor advertising in Australasia. APN has been listed on the Australian Stock Exchange since 1992, and on the New Zealand Exchange since June 2004. Ireland's Independent News & Media PLC [‘INM’] has a 41.8% shareholding of APN News & Media Limited.