APN's loss was down 114 per cent on fiscal 2007. Underlying profit, before impairments and other exceptional items, was $140.1 million, down 17.3 per cent from $169.5 million on 2007.
Revenue was $1.25 billion, or an underlying $1.2 billion.
APN declared a final dividend of 12 cents unfranked.
The group's loss after impairments was on the back of a charge of $146.8 million against New Zealand assets acquired as part of APN's Wilson and Horton acquistion in 2001.
APN said it was "extremely difficult to forecast against the background of world market conditions".
But the company said it expected net profit in fiscal 2009 to be "in line with market consensus of $120 million, with almost all the shortfall against the 2008 year occurring in the first half".
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