You will be redirected back to your article in seconds

CanWest Mediaworks’ profit soars

Stellar growth has been fueled by a long ad boom

AUCKLAND — CanWest Mediaworks New Zealand has reported net profit for the fiscal year to Aug. 31 of NZ$13.1 million ($9.1 million), almost double the $5 million forecast in its prospectus when it listed on the local stock exchange in July 2004.

Cash flow was $47.5 million, 6.7% higher than the prospectus forecast, and 11% ahead of the previous year’s figures.

Stellar growth has been fueled by a long ad boom that has buoyed all Kiwi media.

Broadcaster runs terrestrial webs TV3 and music channel C4, and controls half the radio market.

Results are a milestone for TV3, which had a makeover two years ago. Fox and Alliance Atlantis output deals have helped it become market leader in its target 18-49 demo.

Company is 70%-owned by Canada-based CanWest Global Communications Corp., which spun off 30% of stock to create CanWest Mediaworks NZ.

More Biz

  • --FILE--Wang Jianlin, Chairman of Dalian Wanda

    Wanda Reports Nearly 11% Revenue Drop in 2017

    AUCKLAND — CanWest Mediaworks New Zealand has reported net profit for the fiscal year to Aug. 31 of NZ$13.1 million ($9.1 million), almost double the $5 million forecast in its prospectus when it listed on the local stock exchange in July 2004. Cash flow was $47.5 million, 6.7% higher than the prospectus forecast, and 11% […]

  • Sag Awards Preview

    How to Watch SAG Awards 2018 Online

    AUCKLAND — CanWest Mediaworks New Zealand has reported net profit for the fiscal year to Aug. 31 of NZ$13.1 million ($9.1 million), almost double the $5 million forecast in its prospectus when it listed on the local stock exchange in July 2004. Cash flow was $47.5 million, 6.7% higher than the prospectus forecast, and 11% […]

  • Women's March rallyWomen's March rally, New

    Celebrities Champion LA, NYC Women's Marches: 'March On, My Sisters!'

    AUCKLAND — CanWest Mediaworks New Zealand has reported net profit for the fiscal year to Aug. 31 of NZ$13.1 million ($9.1 million), almost double the $5 million forecast in its prospectus when it listed on the local stock exchange in July 2004. Cash flow was $47.5 million, 6.7% higher than the prospectus forecast, and 11% […]

  • L.A. Women's March: Scarlett Johansson, Viola

    Viola Davis, Scarlett Johansson, Others Rally Thousands at Los Angeles Women's March

    AUCKLAND — CanWest Mediaworks New Zealand has reported net profit for the fiscal year to Aug. 31 of NZ$13.1 million ($9.1 million), almost double the $5 million forecast in its prospectus when it listed on the local stock exchange in July 2004. Cash flow was $47.5 million, 6.7% higher than the prospectus forecast, and 11% […]

  • Thousands of people gather holding protest

    Marchers Reference 'Get Out,' 'Black Mirror' at New York City Women's March

    AUCKLAND — CanWest Mediaworks New Zealand has reported net profit for the fiscal year to Aug. 31 of NZ$13.1 million ($9.1 million), almost double the $5 million forecast in its prospectus when it listed on the local stock exchange in July 2004. Cash flow was $47.5 million, 6.7% higher than the prospectus forecast, and 11% […]

More From Our Brands

Access exclusive content