APN News and Media Limited (AXS:APN) is one of Australasia’s largest and fastest-growing multi media companies. Listed on the ASX in 1992, APN publishes 23 daily and over 100 non-daily newspapers across Australia and New Zealand. Importantly, APN’s newspapers service Australia’s fastest growing region of southern Queensland and northern New South Wales.
APN News and media held an investor Conference today, where it announced expected full year net profit will be between $75 million to $77 million, which is slightly below market consensus.
The company said in a statement that trading in the second half will be better than the first half, which was impacted by a series of natural disasters in Queensland and New Zealand.
CEO Brett Chenoweth said that management have remained vigilant and have exceeded the cost reduction targets announced in April.