Australia APN '07 profit up 8 pct

SYDNEY, Feb 19 (Reuters) - Australasian radio and newspaper group APN News and Media Ltd. (APN.AX: Quote, Profile, Research) reported an 8 percent rise in annual net profit on the back of growth in its key markets.

It said trading in the year to date was in line with expectations, but it did not make any specific forecast for the coming year because of the current market turmoil.

APN, which owns newspapers and radio stations in Australia and New Zealand and sells advertising space on buildings and vehicles, said net profit for the 12 months to Dec. 31 was A$169.4 million ($155.4 million), from A$159.5 million a year ago.

Analysts had expected earnings of A$170.7 million, according to the mean of eight forecasts on Reuters Estimates. Forecasts ranged from A$168.3 million to A$174.9 million.

Shares in APN, whose stockholders in May rejected a A$3 billion takeover offer of A$6.20 a share, closed Monday at A$4.80. ($1=A$1.09) (Reporting by Gyles Beckford)