Media group APN reports net profit of €36m
Exceptional charges of Aus$159m (€128m), relating to the restructuring of the Sydney-headquartered business, dragged the group into the red, after it had reported a net profit of nearly Aus$94m in 2010.
Excluding exceptionals, the group delivered a net profit of Aus$78.2m, down from a figure of just over Aus$103.1m in 2010. APN chief executive Brett Chenoweth noted the group had delivered on its previously stated commitments and had met its guidance for the year, before exceptionals.
