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MEDIA GROUP REPORTS 86% PROFITS SURGE

News, 24 August 2000


Australian television, magazine, gambling and internet group Publishing & Broadcasting yesterday reported an 86% rise in profits for the year to June 30.

These rose to A$324 million (US$190.8m) against A$173.9m in the previous fiscal – a result bettering market expectations. Chief executive Nick Falloon said he expected earnings and cash flow to improve further in the current year.

News source: Wall Street Journal