APN News & Media

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.

APN News & Media (ASX:APN) have seen key members of its board resign on capital raising issues.

• APN News & Media saw the resignation of chairman Peter Hunt, managing director Brett Chenoweth, managing director Brett Chenoweth and three other independent directors: Melinda Conrad, John Harvey and John Maasland.

APN News & Media (ASX:APN) have seen their shares jump nearly 25 percent on market rumours.

• There was speculation in the marketplace that APN News & Media had found a buyer for its New Zealand assets.
• The company had placed its New Zealand assets including The New Zealand Herald and other magazine and radio assets for sale last May.
• The APN shares were up 24.65 percent for the day, up 8.5 cents, to close at 43 cents per share.

APN News & Media (APN) expects its net profit this year to downgrade to between $75 million and $77 million, which is slightly below market consensus, despite having a better second half. The decline is caused by weakness in advertising markets, natural disasters in Queensland and New Zealand, and the 5% depreciation of the New Zealand dollar.

Publisher APN News Media (ASX:APN) yesterday forecast first half of the year earnings of about $15 to $20 million reduction from the previous year. Queensland flooding and the Christchurch earthquake were cited by the company in March to have "significantly and negatively impacted" APN's first-quarter results.

At the company's annual meeting, APN chairman Gavin O'Reilly told shareholders that APN would rally with "a round of restructuring initiatives."

Media company, APN News & Media (ASX:APN), owns Australian regional newspapers as well as radio stations and outdoor advertising have reported a $39 million profit for the first half of the year.

The company had $509 million in sales, down 0.2 percent, a profit of $39 million which is an improvement of 4.5 percent on the corresponding period, an EPS of 6.5 cents, down 9.7 percent and a dividend of 5 cents per share.

Australand Property Group (ALZD), a diversified property group that runs business in Sydney, Melbourne, South East Queensland and Perth was the best performer of the 15th week in ASX200 with a gain of 8.5 percent closing the week at $2.93 (market capitalisation $1690.1 million). The company traded its stocks for $2.70 last week. It was a mixture of property management, media, exploration and business project management companies in the ASX200 list for the week: Australand Property Group (ALZD), APN News & Media (APN), Beach Petroleum (BTA), Goodman Group (GMG), Sundance Resources (SDL).