The profitability of HT&E - the media business called APN before it sold all its papers to News Corp - has surged and its shares are soaring

Dean Mouhtaropoulos/Getty Images

Shares in HT&E Limited, the former APN News & Media without the newspapers, surged after the media group posted strong full year results.

A short time ago, it was up 10.9% to $1.73.

Revenue for the year to December was up 58% to $472.3 million. Underlying after tax profit rose 28% to $54.1 million.

The radio, outdoor advertising and digital media company says the result incorporates Adshel and Conversant Media, with $161 million in revenue directly attributable to the acquisitions made in 2016.

CEO Ciaran Davis says 2017 was the best ratings year in for Australian Radio Network, including Pure Gold, KIIS Network, The Edge and iHeartRadio.

“We finished 2017 as the leading national radio network in Australia,” he says.

The company declared a fully franked full year dividend of 4 cents a share.

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