APN, the Australian news and media firm has reported a rise in pre-tax profits of €154 million for 2008, up from €146 million in 2007 in full-year results.
The company announced an increase in revenues from €741.6 million to €769.5 million and said this year's trading was in line with expectations.
APN, which is partly owned by Irish businessman Tony O'Reilly's Independent News and Media firm, publishes 23 regional daily newspapers and over 100 non-daily publications in Australia and New Zealand.
In it year-end results statement released today, APN praised its regional publishing division which it said had performed well last year.
Despite a moderating of economic conditions in the country, APN said a strong cost focus, innovative sales campaigns and new product extensions helped deliver a 'satisfactory performance' across its media units.
APN said the radio market continued to be highly competitive in 2007, particularly in the major markets of Sydney and Melbourne but reported that its outdoor division performed strongly, with the Australian market overall growing by 12.3 per cent.
The company also said that trading to date is in line with expectations and revenue and profit are ahead of the prior year in both Australia and New Zealand.