APN News and Media FY14 profit grows

Company News

APN News and Media Limited (ASX:APN) has grown its profit in the 2014 full year on the back of higher revenues from radio and outdoor advertising.

The media group boosted its net profit before exceptional items by 27 per cent to $75.2 million over a year which saw a series of acquisitions. 

CEO Michael Miller says APN continued to invest in growth assets over the year and its latest acquisitions reflect confidence in outdoor and radio as growth media. 
The company has also advised today it will postpone the divestment of its New Zealand businesses for at least 12 months. 
APN will not pay a final dividend as it continues to focus on reducing debt and improving its balance sheet.