NZME Limited Announces Unaudited Consolidated Earnings for the Six Months Ended June 30, 2017
August 23, 2017 at 04:30 pm EDT
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NZME Limited announced unaudited consolidated earnings for the six months ended June 30, 2017. For the six months, the company reported revenue of NZD 190,625,000 against NZD 196,634,000 a year ago. Profit from continuing operations before income tax expense was NZD 11,221,000 against loss of NZD 2,772,000 a year ago. Profit from continuing operations for the period was NZD 7,766,000 against loss of NZD 64,294,000 a year ago. Profit for the year was NZD 7,766,000 against NZD 60,801,000 a year ago. Profit for the year attributable to owners of the company was NZD 7,766,000 against NZD 46,876,000 a year ago. Basic and diluted earnings per share for the year attributable to the ordinary shareholders of the company was 4.0 cents against 23.9 cents a year ago. Net cash inflows from operating activities was NZD 7,384,000 against NZD 42,230,000 a year ago. Payments for property, plant and equipment was NZD 1,098,000 against NZD 4,842,000 a year ago. Payments for intangible assets including software was NZD 5,703,000 compared to NZD 1,474,000 a year ago. Trading revenue was NZD 189.1 million. Trading EBITDA was NZD 28.2 million. Trading NPAT was NZD 9.9 million. Capital expenditure for the half year was NZD 6.8 million and net debt as at 30 June 2017 was NZD 106.8 million, up from NZD 95.9 million at 31 December 2016. Net debt was impacted by increased working capital at period end due to the timing of digital receipts and seasonality of payables, however the reversal of these trends saw net debt decline to NZD 102.7 million at 31 July 2017. EBIT was NZD 13.5 million. Trading EBIT was NZD 16.2 million. Trading earnings per share was 5 cents. EBITDA was NZD 25.6 million. Trading NPBT was NZD 13.9 million.
NZME Limited is a New Zealand-based company, which is engaged in the operation of an integrated media and entertainment business. The Company operates through three segments: Audio, Publishing and OneRoof. Audio segment consists of terrestrial radio stations, digital iHeartRadio, podcasts and Radio brand websites. Publishing segment consists of print publications and digital news websites including nzherald.co.nz. and BusinessDesk. OneRoof segment comprises oneroof.co.nz and dedicated real estate print publications. OneRoof Herald Homes and OneRoof Local provide local property listings. Housing market trends, insights and commentary, as well as tips that buyers, sellers, renters and homeowners need, can also be found online at oneroof.co.nz. The Companyâs subsidiaries include NZME Australia Pty Limited, NZME Educational Media Limited, NZME Holdings Limited, NZME Investments Limited, NZME Print Limited, NZME Publishing Limited, NZME Radio Investments Limited and others.