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MELBOURNE, Oct 1 Asia Pulse - Kerry Packer's Publishing and Broadcasting Ltd (ASX:PBL) has forecast in its annual report that conditions will remain tough in the current financial year, with a pick-up not anticipated until the second half, at the earliest.
"We believe that conditions will remain tough, at least during the first half of the 2002 year," chairman James Packer and chief executive Peter Yates said in the company's annual report.
But they noted the potential for renewed housing activity to favourably stimulate the business economy.
"The consumer sector of the economy is more likely to remain strong although world economic conditions could impact unfavourably," the pair said.
PBL is exposed to both the business and consumer sectors through its four core businesses - television, Crown Casino, magazines and online unit ecorp.
The Sydney-based company posted a net loss of $A84.6 million ($US41.2 million) for 2000/01, after ...
Source: HighBeam Research, PBL FORECASTS TOUGH OUTLOOK FOR YEAR AHEAD.