APN has declared that the "advertising recovery is well and truly underway", as it posted a 4.2% rise in sales and an 11% rise in net profit in its half-year results.
The trans-Tasman company recorded revenues of $508.3m for the six months ending 30 June, up 4.2% year-on-year. Earnings before interest and tax (EBIT) were up 10% to $87.1m, while net profit rose 11% to $40m.
The company's Outdoor division led the charge with a 13.6% rise in sales to $109.4m.
APN attributed this to a 16% rise in bookings compared with the first half of 2009, as well as realising efficiencies from a "cost management" initiative taken in 2009.
The company added that its Outdoor division, along with joint venture partner Adshel, has become a "key supporter" of the MOVE system.
"More than 60,000 advertising panels have been measured for a 'likelihood to see', with data available to media buyers and clients to help plan outdoor campaigns. The system has been well received by the industry and will be a positive factor in the resurgence of the outdoor category," the company said.
The Australian Regional Media division - which comprises the company's newspaper and magazine businesses - reported a 6.8% rise in revenues to $140.5m.
"Advertising revenues recovered particularly well in May and June, up 13% and 14%, respectively, over the prior corresponding period," the company said.
Outgoing APN chief executive Brendan Hopkins (pictured) said: "The advertising recovery is well and truly underway.
"In Australia we are already seeing our markets recovering from the global financial crisis. The recovery in New Zealand is yet to achieve the same pace, however it is pleasing to report that the second quarter was significantly better than the first quarter and, looking ahead, we see encouraging trends for August and September."
The New Zealand Media division reported a revenue decline of 0.7% to $156.4m.
Blue Star revealed last week that it had picked up all of ACP's New Zealand magazine printing work from APN and PMP.
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