NZME ad revenue up despite dire consumer confidence

NZME's chief executive, Michael Boggs. (Image: Michael Craig/NZME)

Tue, 23 Aug 2022

NZME boosted its profit by 37% as advertising revenue recovered to pre-covid levels despite exceptionally weak consumer confidence. The media company reported a net profit of $8.5 million in the six months ended June, up from $6.2m in the prior comparable period. Revenue was up 2% at $178m and earnings before interest, tax, depreciation, and amortisation (Ebitda) were up 3% at $28.1m. Chief executive Michael Boggs said this result was despite challenges from the recent omicron outbreak and exceptionally low consumer confidence.S...

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