APN ekes out 1H profit on asset sales, looks at quitting brandsExclusive retail site

Thu, 15 Aug 2013

By Paul McBeth Aug 16 (BusinessDesk) - APN News & Media, the Australasian publisher of the New Zealand Herald newspaper, returned to profit in the first half of the financial year as it sold assets and clamped down on costs, and is mulling the sale of its underperforming brandsExclusive retail website. The Sydney-based media group reported net profit of A$12.8 million, or 1.9 cents per share, in the six months ended June 30, turning from a loss of A$308.2 million, or 49.9 cents, a year earlier when the company slashed the value of its goodwi...

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