Revenues rise at APN on back of radio acquisition but advertising begins to slip

APN News and Media has reported a six per cent lift in revenues but warned that advertising has softened and costs have risen.

While revenue has been boosted by the acquisition of Perth’s 96FM at the start of the year, the media firm said the addition of the former Fairfax Radio station has also added costs.

In a trading update at its annual general meeting today, chief executive Michael Miller said net profit after tax was in line with its 2014 performance when it reported a year-end underlying profit of $75.2 million, a 27 per cent improvement on 2013.