Monday, 3 April 2006
Solid First Half Result For Canwest Mediaworks
Four and half cents per share interim dividend to be paid to shareholders on 15 May 2006
AUCKLAND – CanWest MediaWorks (NZ) today reported its financial results for the six month period ended 28 February
2006. Revenues were $129.5 million, a 4% increase on the corresponding period last year. Earnings before interest,
income tax, depreciation and amortisation (EBITDA) were $34.0 million.
This is a 10% decrease on the corresponding period last year, however, as flagged by the Company in October 2005 and
again in December 2005, the reduction was anticipated due largely to a different spread of local programming costs
across the fiscal year for TVWorks. This is expected to reverse over the second half of the financial year, such that
EBITDA for the full financial year should finish above last year’s result, on the assumption that the New Zealand
advertising market conditions remain as we expect.
The Company announced that an interim dividend of 4.5 cents per share will be paid on 15 May 2006 to shareholders of
record on 5 May 2006. The interim dividend will carry full imputation credits. This is a 12.5% increase on the four
cents per share interim dividend paid last year, due to improved cash flows from operations.
Full Report:
ENDS