APN triples 1H loss after writing down NZ publishing assets by A$485M, flags ongoing review

Thu, 16 Aug 2012

By Paul McBeth Aug. 17 (BusinessDesk) - APN New & Media, the publisher of the New Zealand Herald, Listener and New Zealand Woman's Weekly, tripled its first-half loss after writing down the value of its New Zealand publishing assets unit by A$485 million as part of an ongoing review. The net loss widened to A$319.4 million, or 49.9 cents per share, in the six months ended June 30 from a loss of A$98.3 million, or 16.1 cents per share, a year earlier, the Sydney-based company said in a statement. Revenue from continuing operations rose 1 perce...

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