WAN’s third quarter profit increases by more than 14%
West Australian Newspapers Holdings announced today that it has registered an increase of 14.4% in its third quarter trading profit. West said that the increased trading profit was attributable to the greater advertising revenue and lower costs in the third quarter. The company also said that it expects to deliver a satisfactory outcome in 2010.
"The result reflects not only an improving advertising environment but also our efforts to manage our cost base while improving our newspapers," said Chris Wharton, chief executive of WAN.
West Australian Newspapers said in a statement today that the trading profit was reported of $A22 million in the third quarter ended March 31, increasing by 14.4% comparing to the same period last year.
Total revenue for the third quarter was reported of $A100.9 million, increasing by 6.7% comparing to the revenue posted in Q3 last year. West also reported that its third quarter expenses grew by 6.3% and were reported to $A46.3 million in the period.
However, West said that the profit for the first nine months of the fiscal was reported of $A71.5 million, decreasing by 8% comparing to the same period last year. West said that the profit for the nine months period reflects a poor show in the first half by the company.