Flood flagged to impact APN results

Queensland floods expected to impact on APN News & Media’s results for 2010 and 2011.

According to a statement, the company has “incurred very limited damage to any premises”. It operates in a number of major markets that have been affected by flooding, including publishing centres in Rockhampton, Toowoomba and Ipswich, and radio and outdoor operations in Brisbane.

New APN chief executive officer, Brett Chenoweth, said that there would “inevitably be some impact on our results for both 2010 and 2011.” However, he also added that half of its revenues are generated from New Zealand.

“The affected areas represent only a third of our Australian regional publishing advertising and around 14 per cent of out Australian outdoor and radio advertising revenues,” Chenoweth said.

Not all printers in Queensland, however, have been so lucky. 17 of Worldwide Online Printing’s 21 Queensland centres are now fully operational, with four Brisbane centres operating out of neighbouring centres.

Worldiwde CEO, Rob Dallimore said that the South Brisbane Centre has had more than 100 people, some complete strangers, help remove walls and undertake a massive cleanup to allow it to at least open its foyer for business on Monday. While it may be a few weeks until the centre is again fully operational, it and the Redlands centre are operating from the owners’ Springwood centre to ensure no disruption to customers.