As the Kiwi publisher struggled with reintroduced COVID-19 restrictions, NZME has scored gains in all its key advertising segments.

Revenue market share in radio advertising reached 40.9 per cent in 2021, with 47.4 per cent in print advertising and 24.3 per cent in digital display. The former business unit of APN News& Media (now HT&E) – which publishes the New Zealand Herald – was demerged in 2016

Figures for 2021 show a five per cent increase in operating revenue to NZ$349.2 million (A$326.55 million), net profit after tax of NZ$34.4 million and operating EBITDA of NZ$66.0 million.

Chief executive Michael Boggs told shareholders he was proud of what has been achieved, “especially in what has been a difficult and uncertain trading environment”.

Like that of its Australian former owner, NZME’s digital audio platform iHeartRadio has become the country’s leading podcaster, increasing digital listening hours by a quarter in 2021.

Chairman Barbara Chapman said reduction of net debt allowed the company to announce an on-market share buyback programme, expected to commence in March, and a fully imputed and fully franked final dividend of 5.0 cents per share.