Yellow Pages say on target

Company

The owner of the phone book, Yellow Pages Group, said first-quarter revenue rose 7.4% and the company was on track to meet its annual profit forecast.

Quarterly revenue was $ 78 million, while earnings before interest, taxes, depreciation and amortization (ebitda) was $ 47 million, $ 400,000 more than expected, the chief financial officer said by interim Greg Hurn.

Online revenues increased 12% from the previous year, and yellow and white page phone book revenues increased 7%. Income for the Yellow Pages retirement guide increased 51 percent for the quarter.

The company expects to meet its annual ebitda target of $ 171 million, up 7.6%.

YPG previously said it expects an after-tax net loss of $ 14.6 million, including significant non-cash items such as $ 15 million in depreciation and $ 27 million in non-cash financing. .

Printed directories provided the bulk of the revenue and continued to grow unlike the overseas directory markets, Hurn said. Ultimately, online and other media revenues are expected to exceed traditional print revenues.

Telecom sold its directory business in April to CCMP Capital Asia Pte and Teachers ‘Private Capital – the private equity arm of the Ontario Teachers’ Pension Plan – for $ 2.24 billion.

– NZPA


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Marvin M. Moreno

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