APN News & Media, the Australian group in which Independent News & Media has a 42% stake, has reported net profits of A$72.1m for the first half of 2006, up 9% on a year earlier.
Revenue from continuing businesses grew by 3% to A$638.5m, while earnings before exceptional items rose by 6% to A$142.7m.
A breakdown showed that regional newspaper profits grew by 6%, while radio profits were up 2%. Outdoor advertising profits jumped by nearly 50%, but New Zealand national publishing profits fell 2%, though this was affected by a slump in the value of the New Zealand dollar.
The company expected earnings per share to grow by between 5% and 10% for the full year, in line with its previous estimates.
