APN News & Media, the Australian media group which is 41% owned by Independent News & Media, has reported 20% higher net profits of AS$50.7m for last year.
Total revenue for APN - which is involved in regional newspapers, radio and outdoor advertising - rose 18% to $615.2m.
Outdoor advertising profits were up 62%, while broadcasting profits grew by 18%, but earnings were flat in the newspaper division, because of higher interest rates and newsprint prices.
