|1996 .. onward !
||[Aug. 18th, 2009|02:46 pm]
Reader’s Digest US filing for bankruptcy protection does not affect the Australian business (RD Australia)
Managing Director for Reader’s Digest Australia Pty Ltd, Walter Beyleveldt, confirmed today that the announced US RDA restructure has no impact on the Australian business which continues to go from strength to strength. “It will remain ‘business as usual’ for the Australian company and nothing will change for our employees, vendors or business partners. “In Australia, Reader’s Digest remains the second highest circulating monthly magazine in the country; Handyman magazine circulation has grown by 4.8 per cent and its readership increased by 15.8 per cent.” He continues: “HealthSmart has grown in circulation by 4.6 per cent and has also grown readership by a massive 26.8 per cent. “The company’s advertising revenue grew by seven per cent in FY09 over prior year, despite a downturn in general advertising revenues in the magazine sector.
“Our Australian business continues to be healthy and profitable and is unaffected by any financial restructuring taking place in the US.”