Outdoor advertiser and publisher APN has booked a profit loss of seven per cent for the 2015 full year and revealed plans to divest its Australian publishing sector.

The OOH group’s net profit fell to $70.2m from last year’s $75.2m, while revenue from continuing operations managed to jump slightly by one per cent to $850m.

APN also revealed plans to strip back investments in its Australian Regional Media (ARM) division, which publishes content across print, online and mobile.

Chief executive Ciaran Davis says there will be a renewed focus on divesting ARM publishing and monetising the group's digital opportunities.

“ARM is operating in a challenging environment with all publishers facing the same tough headwinds; however, there continue to be positive results delivered within the business. Digital subscriptions and the development of other new revenue streams are helping position ARM for the future,” says Davis.

“APN has been a long term supporter of regional publishing in Australia however, our future investments must remain focused on growth assets and opportunities. We have therefore commenced a process to divest ARM.”

APN’s divisions Australian Radio Network and advertising firm Adshel accounted for the bulk of business revenue, as well as Hong Kong outdoor. A Group-wide cost savings target of $25m was also exceeded.

The company says plans for 2016 involve continued investment in radio, a new CEO appointment and increased efforts on digitisation.

APN is declining to pay dividends for 2015, it instead says it will ‘prioritise strategic investments’ to deliver ‘greatest shareholder return’.

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