APN News & Media sees profits fall

Company News

APN News & Media (ASX:APN) has cited higher tax expense behind a 7 percent fall in net profit.
 
The media company reported net profit after tax of $70.2 million for the 12 months ending 31 December 2015.
 
Revenue from continuing operations was up 1 percent to $850 million, while EBITDA also grew 1 percent to $166.2 million.
 
Looking ahead, APN News & Media said the mixed conditions experienced in 2015 have continued into 2016.
 
The company also noted it has commenced a process to divest its regional newspaper business Australian Regional Media.

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