A record half year profit performance for Radio and Print company Rural Press reflects strengthened economic conditions across Australia and New Zealand as the country slowly comes out of drought.

In an announcement to the Stock Exchange Rural Press says advertising volumes rose, especially in its print division, resulting in a 23.4% increase in net profit to $42 million (after tax and minorities) with a revenue increase of 5.2% ($251 million).

The company’s South Australian radio licences “marginally increased profits, offset by the lower profits
of the Ipswich station, operating in a competitive market.”

Rural Press recently merged its radio operations with Bundaberg Broadcasters.

The company recorded an 18.4% increase in the interim dividend to 9 cents per
share and 9.9 cents per share on ordinary and Preferred shares, fully franked.