In its annual figures Rural Press Limited has announced an after tax profit of $53.7 million, well up on last year’s figures.
The profit is a record for the company, surpassing the previous figure of $52.0 million.
Revenue from advertising, circulation and printing services for the period increased 0.7 per cent to $441.7 million and the Directors have recommended a final dividend of 9.9 cents per share on ordinary shares and 10.89 cents per share on Preferred shares, both fully franked at 30 per cent. The result was well received in the share market and stock prices rose.
The main growth contributor was the strong performance of the company’s Australian agricultural publishing operations. Whilst the South Australian radio stations increased revenues, the impact of launch and promotion costs in repositioning the group’s Ipswich radio station in its market “resulted in an overall profit downturn in the broadcasting operations.”