AZ Medien: Sales shrank by 30 million francs in 2009
AZ Medien AG suffered a revenue decline of 30 million Swiss francs in the past fiscal year. The media company announced this in a letter to its shareholders. The decline was primarily driven by the advertising market.
Business with job advertisements alone has slumped by 15 million francs, said Peter Wanner, publisher of AZ Medien, in a report by the Aargau/Solothurn Regional Journal of Swiss Radio DRS on Monday. The reason for this was the economic crisis. The cost-cutting measures in the past financial year had not been able to cushion the massive slump. AZ Medien will therefore be in the red. Wanner did not disclose how high the loss will be. AZ Medien AG will publish its financial results at the annual general meeting on May 28, 2009.
