West Australian Newspapers Holdings (ASX:WAN) has reported a 10.29% increase in annual net profit to $96.2 million.
The newspaper company has also more than doubled its final dividend to 26 cents fully franked, a total dividend payout for the year to 45 cents fully franked.
CEO Chris Wharton says to have finished the year more or less on parity with the prior financial year is a strong result, having set an internal target and achieved it.
Mr Wharton says compared to the same period in 2009 the company is now faced with markets in a modest recovery phase.
In 2009 West Australian Newspapers spent almost $14 million on staff redundancies.
West Australian Newspapers reported a profit of $87.24 million for the year to 30 June 2009.
WAN Price at posting:
$6.93 Sentiment: None Disclosure: Held
