CanWest's New Zealand Operations Report Q1 2007 Earnings
08 12월 2006 - 5:16AM
PR Newswire (US)
CanWest MediaWorks NZ reports rise in both revenues and EBITDA
WINNIPEG, Dec. 7 /PRNewswire-FirstCall/ -- CanWest Global
Communications Corp. announced today that CanWest MediaWorks (NZ)
Limited reported an increase in consolidated revenues of 2% over
the same period last year to NZ$74.5 million and a 3% increase
EBITDA to NZ$24.3 million for the first quarter of its 2007 fiscal
year, which ended on November 30, 2006. "This is an excellent start
to the new financial year," said Tom Strike, Chairman of CanWest
MediaWorks (NZ) Limited and President of CanWest MediaWorks
International. "These results reveal the extent to which the
advertising market in New Zealand has recovered from a somewhat
more challenging environment in the previous several quarters." Mr.
Strike noted that television and radio revenues were up NZ$1.7
million from the same quarter a year earlier, reflecting a
combination of strong audience levels for television and overall
economic improvement. Brent Impey, CanWest MediaWorks (NZ)
Limited's CEO, said the positive results show that the advertising
market has responded to the programming strength at both the
company's television and radio operations. "We are delighted at the
response of the market to the performance of TV3, C4 and our radio
brands. In particular, TV3's prime time schedule has seen record
audience shares in October and November, and we have not only been
number one in our target demographic for the first time ever, but
are also winning among our competitors' target audience
demographics as well." Mr. Impey pointed to the impressive
performance of 3 News, the flagship news broadcast on TV3, which
has reached a 40% share among 18 - 49 year old viewers compared to
28% its principal competitive newscast - One News - among the same
viewers. RadioWorks has also had its share of ratings success, with
the most recent nationwide radio audience survey showing that its
stations have increased by more than 18,000 listeners a week, which
corresponds to the amount of audience that its principal competitor
has lost. The company remains cautiously optimistic about the
outlook for the remainder of the fiscal year. "Forward looking
sales bookings across both the company's radio and television
operations to the end of March 2007 look good," said Mr. Impey.
Later in calendar 2007, TV3 will undertake its biggest ever single
television production when it provides the exclusive broadcast of
the Rugby World Cup from France, which will undoubtedly be the
biggest television event of the year in New Zealand. These results
are recorded in accordance with New Zealand Equivalents to
International Financial Reporting Standards and will be subject to
foreign currency translation and adjustment to Canadian GAAP upon
consolidation with CanWest's other operations. This news release
contains certain comments or forward-looking statements about the
objectives, strategies, financial conditions, results of operations
and businesses of CanWest. Statements that are not historical facts
are forward-looking and are subject to important risks,
uncertainties and assumptions. These statements are based on our
current expectations about our business and the markets in which we
operate, and upon various estimates and assumptions. The results or
events predicted in these forward-looking statements may differ
materially from actual results or events if known or unknown risks,
trends or uncertainties affect our business, or if our estimates or
assumptions turn out to be inaccurate. As a result, there is no
assurance that the circumstances described in any forward-looking
statement will materialize. Significant and reasonably foreseeable
factors that could cause our results to differ materially from our
current expectations are discussed in the section entitled "Risk
Factors" contained in our Annual Information Form for the year
ended August 31, 2006 dated November 29, 2006 filed by CanWest
Global Communications Corp. with the Canadian securities
commissions (available on SEDAR at http://www.sedar.com/ ) and with
the U.S. Securities and Exchange Commission under Form 40-F
(available on EDGAR at http://www.sec.gov/). We disclaim any
intention or obligation to update any forward-looking statement
even if new information becomes available, as a result of future
events or for any other reason. CanWest Global Communications Corp.
(http://www.canwestglobal.com/), (TSX: CGS and CGS.A, NYSE: CWG) an
international media company, is Canada's largest media company.
CanWest is Canada's largest publisher of daily newspapers and also
owns, operates and/or holds substantial interests in conventional
television, out-of-home advertising, specialty cable channels, web
sites and radio stations and networks in Canada, New Zealand,
Australia, Turkey, Singapore, Indonesia, Malaysia, the United
Kingdom and the United States. DATASOURCE: CanWest Global
Communications Corp. CONTACT: Geoffrey Elliot, Vice President,
Corporate Affairs, Tel: (204) 956-2025, Fax: (204) 947-9841, Email:
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