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BRIEF-APN News and Media says $25 mln of annualised cost savings to be implemented by end of year

Published 20/08/2015, 07:29 am
© Reuters.  BRIEF-APN News and Media says $25 mln of annualised cost savings to be implemented by end of year
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Aug 20 (Reuters) - APN News & Media Ltd APN.AX :

* $25M of annualised cost savings to be implemented by the end of the year

* Says apn's tax rate for FY 2015 is forecast to be 24 per cent pre exceptionals, up from 13 per cent in 2014

* Company "intends to expand its network of digital screens in Auckland and across other cities throughout 2016"

* Nzme is collaborating with Fairfax Media in New Zealand on a newspaper distribution partnership

* Says investments in revenue growth strategies impacting profits in the first half will deliver benefits in H2

* Says 2015 first half results reflect a soft advertising market in Q2

* Says HY revenue from continuing operations up five per cent to $427.6M

* Source text for Eikon ID:nNZW4kJR8m

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