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APN News & Media posts profit

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Business News | Wednesday August 20 2014 11:37

Michael Miller, APN chief executive (Supplied)

Michael Miller, APN chief executive (Supplied)

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APN News & Media Limited's profit is up 77 percent to $22.6 million.

It's largely a result of its acquisition of the the remaining 50 percent of Australian Radio Network and The Radio Network in New Zealand.

Revenue is up three percent to almost $406 million.

Chief Executive Officer, Michael Miller, says although advertising markets remain challenging the company performed better in the second quarter.

He says radio continues to grow as a medium on both sides of the Tasman.

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