APN results tomorrow

APN News & Media, the Australian subsidiary of Independent News & Media, releases financial results for the six months to end June tomorrow.

Though Independent owns only 40.2% of APN, it consolidates 100% of the Australian firm’s income into its own accounts, making the division the largest contributor to annual sales and profits. In a trading update in June, Independent told shareholders that its revenues in the six months to end June would be 3% higher than last year and that adjusted earnings per share would grow by at least 10%. Tomorrow’s results from APN should provide evidence if the company is on track to meet that target.

Company profile: APN News & Media is one of the largest publishing and advertising groups in Australia and New Zealand. The company’s divisions are: publishing of newspapers, magazines, directories and general printing; radio stations and outdoor advertising. APN publishes 23 daily and more than 100 non-daily newspapers across Australia and New Zealand, including the New Zealand Herald.