NZME predicts second-half recovery as profit falls

(Image: NZME)

Fri, 25 Aug 2023

New Zealand Media and Entertainment (NZME) expects advertising revenue to recover in the second half of the year after seeing post-tax profit fall by $6.5 million in the six months to June 30.The media group recorded a post-tax profit of nearly $2m for the half-year, down from just under $8.5m in the first six months of 2022, as operating revenue fell by 6% to $166m.NZME owns the New Zealand Herald, BusinessDesk, Newstalk ZB, the OneRoof property website and a suite of entertainment radio stations including ZM, The Hits and Hauraki, and regiona...

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