APN News & Media, the Australian Media Company serving in both Australia and New Zealand, announced a decline in revenue despite the apparent increase in the rate of the advertisement business of the Company during the second fiscal quarter. Such increase convinced experts that APN would have a stronger contribution in the stock market.

However, APN did not even meet the experts’ expectations, showing a decline in the Company’s share value by more than 9.5% to reach a value of 16.5 cents a share. The recorded rise in revenue was only 4.9%, which led the shares to fall.

Brendan Hopkins, ANP’s Outgoing Chief Executive, commented on the weak rise, saying that the recovery in the advertising business is “truly underway” and that the Company witnessed a significant growth in its business during that second quarter. Yet, experts forecasted the revenue to surpass the $507.4 million achieved last quarter.

Chief Hopkins added, “In Australia we are already seeing our markets recovering from the global financial crisis. The recovery in New Zealand is yet to achieve the same pace; however, it is pleasing to report that the second quarter was significantly better than the first quarter”.

Hopkins would be leaving ANP by the end of this year, with promises that ANP would deliver a solid fourth quarter.