APN News & Media has recorded an Overall Net Profit of $15.2m in financial results released today, for the 2014 calendar year.
APN is the parent company of NZME and ARN, both of which improved their revenue from 2013.
While the Australian radio market grew 3% in 2014, ARN revenue grew 18% to $180.9m and EBITDA grew 14% to $66.5m. Its agency revenue grew 32% to $109.6m, reflecting improved 2014 ratings.
NZME Radio experienced 5% growth in revenue to $116.8m and 7% in EBITDA growth, which sits at $23.1m.