APN News and Media has reported a 15 per cent lift in revenue from its operating businesses to $298.6 million for the 2016 full year after divesting its interests in print and two significant acquisitions.
With losses on discontinued operations and the transactional activity, APN posted a loss for the year of $6 million. Statutory earnings before interest, tax, depreciation and amortisation from continuing operations were up 14 per cent to $90.9 million
The year saw APN demerge its New Zealand print, broadcasting and digital business, NZME, and complete the sale of its Australian Regional Media division to News Corp Australia for $36.6 million. It also expanded its outdoor interests by acquiring the remaining 50 per cent of Adshel for $268.4 million, as well as taking over digital business Conversant Media.
The APN board recommenced the payment of dividends for the first time since 2012, declaring a fully-franked full-year dividend of 4 cents.
APN chief executive Ciaran Davis said APN was effectively a new business that over the last three years had gone from having one third of revenues in growth assets to generating all its revenues across the high‐growth sectors of outdoor, radio and digital.
“With technology disrupting advertising models in the home, we believe ad revenue will move increasingly toward outdoor, radio, and digital – mediums capable of delivering greater engagement, mass reach and less fragmentation,” he said.
“APN will move from being a holder of media assets to an integrated media and entertainment operator, leveraging the power of our complementary channels.”
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