APN News & Media has lifted its half year profit 77 per cent to $22.6 million, as its performance is boosted by radio acquisitions.
APN's revenue from continuing operations for the six months to June 30, 2014, was up three per cent to $405.9 million.
APN said it had achieved strong revenue in its radio assets while revenues declined in publishing.
The company bought full control of its Australian Radio Network and New Zealand's The Radio Network in February.
Chief executive Michael Miller said the advertising market remains volatile and agency revenues were soft in the early part of the second half of the calendar year.
Currently, group earnings are slightly ahead of where they were at the same time a year ago, he said.
APN said the ARN business achieved strong second quarter revenue growth after increasing audiences due to investments in KIIS 1065 and the Classic Hits Pure Gold network.
High-rating breakfast duo Kyle and Jackie O defected to KIIS from rival Southern Cross Austereo in January.
Mr Miller said the strong second quarter was a positive sign.
"Although advertising markets remain challenging, APN's second quarter performed better than the first," he said.
"This gives us great confidence in our strategy of investing in talent, brands, digital infrastructure and a more integrated approach."
Earnings for the group were flat at $70.7 million for the half year, and no interim dividend will be paid.
Share
