After-tax profits at Aussie media group set to hit €73.6m

AFTER-TAX profits at APN, the Australian media group 40.5%-owned by Independent News & Media, are set to hit $A120 million (€73.6m) for 2004, up from $A103 in 2003.

APN News & Media chairman James Parkinson said the first quarter of 2004 continued to produce good results.

"The diverse economies in which we operate continue to grow, and in particular our newspaper and radio operations are performing well in both Australia and New Zealand.