The improved outlook was a turnaround from NZME's first half's net loss of just under $400,000. (File photo) Photo: RNZ
Media company NZME has increased its full year underlying profit guidance by up to $3 million as revenue growth begins to recover.
The company, which owned the NZ Herald, ZB radio stations and OneRoof, expected to make between $59m and $62m, compared with an earlier estimate of between $57m and $59m.
The midpoint of the updated range was 12 percent up on the year earlier's underlying profit of $54.2m.
"We're pleased to upgrade guidance as our business shows signs of recovery, despite the continuing economic challenges across the country," chief executive Michael Boggs said.
"The company has had better than expected revenue performance coupled with continued cost control. This momentum positions us well as we enter FY26."
The improved outlook was a turnaround from NZME's first half's net loss of just under $400,000.
Brokerage firm Forsyth Barr said the update was a continuation of positive trends seen at the company's first half result, where disciplined cost control saw operating expenses fall by 2 percent on the year earlier.
"We see commentary that revenue lines are tracking better than expected favourably both for NZM and NZ's economy," Forsyth Barr senior analyst James Lindsay said.
NZME declined to provide further comment ahead of the release of its full year result at the end of February.
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