More jobs on the line at APN

Jobs could be lost as the regional media operations of APN News and Media look for more cost savings with revenue continuing to fall.

Jobs could be lost as the regional media operations of APN News and Media look for more cost savings with revenue continuing to fall.

APN chief executive Michael Miller said the group intended to retain all its Australian regional newspapers but, when asked if job cuts may be needed, said: "I can't say no to that."

"Unfortunately, that's business. I think it's prudent that all businesses look at their cost line."

APN said new technology could be employed and duplication between newspapers eliminated.

The media group, which also has significant publishing and radio assets in New Zealand, on Friday booked a net profit of $12.8 million for the six months to June 30. It was a substantial improvement on the previous corresponding period, when APN reported a loss of $319.4 million after slashing the value of its New Zealand publishing business.

Revenue at the regional arm fell 14 per cent to $107.8 million, and earnings were down 40 per cent to $12.7 million. Tough conditions in the retail sector and in local job markets continue to weigh upon advertising revenue.

But APN said the fall in revenue had eased and government spending was starting to pick up.

It said it had achieved cost savings in the first half from the restructure of the regional operations in northern NSW, resizing its head office and outsourcing support functions.

Shares rose 6¢ to 35¢.

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