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Australia's APN lowers year profit forecast

Mon May 4, 2009 9:19pm EDT

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SYDNEY, May 5 (Reuters) - Australia's APN News and Media (APN.AX) sees its year net profit in a range of A$100 million ($73.6 million) to A$110 million, down from about A$120 million forecast in February, the company said on Tuesday.

APN, which is 39.1 percent owned by Irish-listed Independent News And Media INNME.I, also told shareholders at its annual meeting that market conditions would continue to be difficult in the short term. ($1=1.359 Australian Dollar) (Reporting by James Thornhill)



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