APN News and Media Full Year $455.8m Loss

Content publishing company, APN News & Media (ASX:APN) have reported its results to shareholders, investors and share traders.

• APN posted a $455.8 million Loss for the 2012 full year result from a loss of $45.1 million in the previous year.
• APN revenue from continuing operations up 2 percent to $857.2 million while revenue from discontinued operations down 69 percent to $71.4 million.
• Underlying net profit, excluding one-off financial items, was $54 million, down from $78.2 million.
• Peter Cosgrove, a former director at major shareholder and Ireland-based Independent News and Media (INM), has been appointed chairman.
• APN News & Media will not pay a final dividend. It had paid a 1.5 cent per share interim dividend earlier in the year.