NZME posts 0.5% gain in debut first-half earnings as costs fell faster than revenue

Thu, 25 Aug 2016

By Jonathan Underhill Aug. 26 (BusinessDesk) - NZME, the New Zealand media group awaiting Commerce Commission approval to acquire Fairfax Media’s local assets, posted a 0.5 percent gain in first-half pretax earnings as costs fell faster than revenue. Net profit jumped on a gain from the sale of its Australian Radio Network stake. In its debut results as a separate, New Zealand-listed company NZME reported trading earnings before interest, tax, depreciation and amortisation of $32.5 million, from $32.4 million a year earlier. Revenue fell...

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