The result was driven by the performance of the New Zealand Herald and its regional associates, which posted a combined operating profit that was up 23 per cent from the previous year.

The group, and the Herald have benefited from a massive leap in both advertising and circulation at the paper, on the back of a strong economy and real estate market.

The Herald is said to have 60 per cent readership penetration and is continuing to thrive in the buoyant New Zealand economy.
Some 70 per cent of the group’s earnings before interest and tax were derived from the newspaper division, led by the Herald.

“During the year we launched a number of strategic new initiatives to build on the market share and circulation gains made by The New Zealand Herald, our 23 regional daily newspapers and more than 90 non-dailies,” says APN Chief Executive Officer Brendan Hopkins. “APN’s newspapers now account for 72 per cent of Group EBIT.

“In particular, the launch of magazines such as Canvas, Revive and Noosa that are inserted in our daily newspapers, as well as The Aucklander network of community newspapers, has extended our penetration into key markets and provided value added products for our readers and advertisers. “

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