Media company NZME has trebled its interim net profit to $3 million despite reporting a 13 per cent drop in revenues to $158m, which the company said was largely due to the impact of Covid-19. Government wage subsidies totalling $8.6m helped it to the higher profit and are also included in its revenue numbers. KEVIN STENT/STUFF NZME chief executive Michael Boggs said its focus was still on navigating the Covid-19 recovery. Print advertising revenues plummeted 31 per cent to $35m. NZME shares were trading up 2 cents at 31c on the NZX shortly after the profit result.

Source: Stuff August 24, 2020 20:46 UTC