APN upbeat on earnings

Photo / Hawke's Bay Today

APN News & Media says it expects to report full-year earnings in line with market consensus amid improving advertising conditions.

The media company, which publishes the Herald, said it agreed with a consensus forecast of 10 media analysts for earnings before interest and tax and before exceptional items to come in at A$210 million ($269 million) for calendar 2010.

"The company expects to report full-year results for the year materially in line with this consensus," APN said in a statement yesterday.

The diversified media house owns newspapers, radio and outdoor advertising interests in Australia and NZ.

It issued the trading update ahead of investor presentations scheduled for Melbourne and Sydney this week.