NZME ad revenue up despite dire consumer confidence

NZME ad revenue up despite dire consumer confidence
NZME's chief executive, Michael Boggs. (Image: Michael Craig/NZME)
Dan Brunskill
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...

More Economy

Bank economists expect OCR rises in 2026
Economy

Bank economists expect OCR rises in 2026

‘A number closer to four takes the cash rate to neutral,’ says BNZ's Stephen Toplis. 

Westpac records soft December retail spending
Economy

Westpac records soft December retail spending

Despite a slight lift, Westpac data points to a soft end of year for household spending.Westpac’s retail tracker, released on Thursday, showed spending on Westpac-issued credit and debit cards was up 2% in December compared to last year.  Westpac senior economist Satish Ranchhod...

Staff reporters 16 Jan 2025
Price shakeup for cigarette brand
Retail

Price shakeup for cigarette brand

Cigarette prices typically go up each year. Not in this case.

Oliver Lewis 16 Jan 2025
Employment confidence ticks up in December quarter
Economy

Employment confidence ticks up in December quarter

A further indicator of some stabilisation in the labour market. 

Rebecca Howard 15 Jan 2025