APN replies to ASX query

APN News & Media yesterday responded to a share price query from the Australian stock exchange.

The ASX noted that shares in Herald publisher APN fell from a closing price of A$2 on January 29 to a low of A$1.35 on Wednesday.

APN said it was not aware of any specific reason for a sharp fall in share price but noted that many media companies had suffered price falls in the past few weeks.

APN noted that while its results for the year were still be finalised - it did not expect the net profit after tax (pre-non-recurring items) to vary by more than 5 per cent from the guidance offered in November.

It was noted at that time that expectations were for a figure around the lower end of analyst forecasts at about A$148 million.

Last week rival publisher Fairfax Media responded to a similar query from the ASX. APN closed up 11c at A$1.53.