APN registers net loss

APN has released half-yearly figures registering a net loss of $256.9 million for the six months through June, swinging into the red from the prior interim profit of $7.5m.

The company has decided against paying an interim dividend to shareholders following its recent equity raising.

Chairman Peter Cosgrove has told The Australian he’s welcomed  earnings before interest, tax depreciation and amortisation being up up 7 per cent.
“APN has delivered a solid result with higher earnings in a competitive media market,” Mr Cosgrove said.

“Most importantly we have moved a long way towards transforming APN into a radio and outdoor media company, which are both growth sectors in the media industry in Australia,” he said

APN’s content investment to drive ratings includes: