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NZME beats full year earnings guidance, signals return of dividends
23 Feb, 2021 08:27 PM
5 minutes to read
NZ Herald
NZ Herald owner NZME exceeded its guidance for the year to December 31 clocking up operating earnings of $67.3 million and signalling a return to dividends.
The media company had forecast operating ebitda of $63m-$66m including $8.6m accessed from Government Covid-19 wage subsidies.
Today it reported a statutory net profit of $14.2m compared to a net loss of $165.2m in 2019 when it suffered impairments to intangible assets.
The underlying earnings figure of $67.3m was a 3 per cent increase on the previous year.
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NZME shares gained 2c to 92c following the result. The stock has climbed from a low of 18c in April. ....

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