Sydney, Aug 14, 2007 (ABN Newswire) - Reporting season continues this morning, with APN News and Media posting a 5 per cent rise in first-half earnings as expected. The company says cost controls and a pick-up in outdoor advertising offset a subdued New Zealand market. First half net profits climbed to just over $73 million, up $3 million over a year ago. APN now expects full-year earnings to increase between 5 and10 per cent. APN earnings have been rising since 2002.
Singapore Telecommunications beat market expectations with a 10.4 per cent rise in first-quarter net profit to $868 million. The S&P/ASX listed company says good business at home and abroad drove the results, with help from SingTel's Australian mobile phone business Optus. SingTel says it will stick to previously issued guidance for single-digit revenue growth in 2008. Singapore Telecommunications saw earnings increase in 2006 over the previous year.
In other news, BHP Billiton has discovered a column of gas at an exploration site off the coast of Western Australia. BHP petroleum's president of global exploration is calling the discovery an "excellent" addition to the company's portfolio and said the company will continue to assess data collected from the site. The so-called Thebe-1 is BHP's second significant gas discovery in the basin. BHP Billiton has posted steadily increasing record earnings since 2002
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