Strong results as APN profits up by 20% in 2013

APN News & Media — the Australian group which acts as Independent News & Media’s only overseas interest these days — has reported a strong performance for 2013, with net after-tax profits up by nearly 20%.

The Sydney-based group — which owns a number of newspaper, radio and outdoor advertising assets across Australia and New Zealand — yesterday reported a net after-tax profit of Aus$59.3m (€39m), before exceptional items, for the year; up from Aus$49.6m for 2012.

While group revenues were down by nearly 1%, year-on-year, from Aus$823m to Aus$817.2m, pre-exceptional EBITDA (earnings before interest, tax, depreciation and amortisation) grew by nearly Aus$12m to Aus$162.8m.