APN profits jump

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APN NEWS & Media, the Australian regional radio, publishing and outdoor advertising firm, said pre-tax profits jumped 53 per cent to A$36.7m (pounds 14.7m) as sales grew 25 per cent to A$227m. APN is 42 per cent owned by Kelsal, a private company 20 per cent-owned by the family trust of Tony O'Reilly and 80 per cent-owned by Independent News & Media, publishers of The Independent.

"All operating divisions performed well, particularly APN's outdoor advertising operations, which recorded an impressive increase in operating profit of 45 per cent," said Liam Healy, APN chairman.