APN reports 14% hike in profits for first half

APN, the Australian newspaper publisher in which Independent News & Media has a 40% stake, said profits in the first half of the year rose 14%.

Pre-tax profits for the six months to end June were €68.1 million on revenues 10% higher at €405 million.

The company said profits were driven higher by a strong circulation and advertising gains at its New Zealand and regional newspaper publishing arms and from its radio division.