NZME reports little changed FY pro forma net profit despite challenging markets

Thu, 23 Feb 2017

By Rebecca Howard Feb. 24 (BusinessDesk) - NZME, the New Zealand media group awaiting Commerce Commission approval to acquire Fairfax Media’s local assets, reported a steady full-year pro forma net profit as challenging advertising markets were helped by a strong growth in digital revenue. The company said its pro forma net profit was $27.8 million in calendar 2016 from $27.5 million in the previous year, while its statutory net profit was $74.5 million versus $42.9 million in the prior year, impacted by tax and a gain on sale of interes...

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