Annual Report to Shareholders 1996

Spread of Activities

Founded in 1911 the company was formed to produce a single newspaper for primary producers in New South Wales - The Land Newspaper. Today the company consists of four operating divisions, covering Agricultural Publishing, Regional Publishing, Printing, and Radio Broadcasting.

The divisions have a clear strategy of serving rural and regional communities through their operations and the printing network serves city and country clients.

	Agricultural Publishing The division consists of a total of 55 newspapers and magazines and other publications and operates in Australia, New Zealand and the Eastern States of United States of America. The division's many publications are a reliable and authoritative source of information for the agricultural communities and markets.
	Regional Publishing Commenced in the mid 1980's, the division has grown rapidly, mainly through acquisition, and currently consists of 160 regional newspapers and magazines operating in all states of Australia. The division currently contributes more than half of the group's profits and its many publications are the main source of information and entertainment within the various communities they serve.
	Printing The group's printing operations consist of 19 Web-fed printing sites throughout Australia which service the printing needs of the group's publications.The Web-fed printing sites close to metropolitan centres provide the printing requirements of external clients. More than 60% of the Division's work is now conducted on behalf of external clients. The group also has 9 sheet fed printing sites meeting the needs of local regional businesses.
	Radio Broadcasting The purchase of 10 radio stations in the south west regions of Western Australia in 1993 enabled the group to expand into another medium and to reach regional growth markets not immediately available to it through publishing. This was followed up by further purchases of 15 radio stations in regional Queensland. The group's radio broadcasting division now consists of 25 stations in Queensland and Western Australia and an interest in a further two in South Australia.