West Australian Newspapers yearly profits rise

Posted by Erina Lin on August 4, 2010 at 3:52 PM

West Australian Newspapers Holdings reported a 10.3 percent increase in full-year profit due to a modest market recovery, according to The Australian Business Journal.

However, the publisher was cautious about that its new financial year, as uncertainty about the federal government's planned tax on resources companies and the upcoming federal election's drag on advertising demand, the Australian reported.

The company's net profit for the 12 months ended June 30 totalled A$96.2 million, from $87.2 million in the previous year.

In the last quarter of the fiscal year, the company posted a profit of $24.7 million, up 28 percent compared to the same period one year ago. Full-year revenue declined to $409.2 million from $418.0 million, with yearly revenue at its flagship title West Australian slipping 2.8 percent at $246.1 million.

Circulation revenue at the paper fell 5.4 percent to $66.5 million.