HONG KONG’S NEXT MEDIA PROFITS SURGE 37 PERCENT, MAINLY DUE TO ITS NEWSPAPER OPERATIONS
December 19th 2007 01:33
Hong Kong’s Next Media, publisher of Apple Daily and Next Magazine, has seen its half yearly profits surge 37% to HK$215.5 million (A$32 million).
Marketing reported that its newspaper operations in Taiwan and Hong Kong bolstered the result.
The group's earnings before interest and tax came in at 23 percent up on its 2006 result.
Next Media's newspapers division accounted for 70 percent of the group's total income in the six months to September 30, 2007.
Apple Daily's advertising revenue slipped 3.6 percent, but its average daily sales between January and June 2007 increased to 309,261 copies, compared with 297,289 from the same period last year.
Half yearly revenue for the Ming Pao, part of the One Media Group, was up 6 percent.
- From MediaBlab
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