Fairfax Media Provides Half Year Results

Fairfax Media Limited [ASX:FXJ today announced its results for the half-year to December 2017.

Chief Executive and Managing Director Greg Hywood said: “This is a good result we are presenting to the market today. It shows the solid performances of our businesses – virtually across the board – and demonstrates the strength of the Fairfax Media portfolio.

“Fairfax is strongly positioned due to the success of growth and transformation initiatives we have implemented over the past five years. Domain’s digital growth is continuing; Metro publishing has delivered increased earnings; the Radio business is showing the benefits of the merger; and Stan is going from strength to strength.

“For the half-year, the Fairfax Group delivered operating EBITDA of $146.9 million, an increase on the prior year. This reflected the strong performance of Domain and Macquarie Media, and extremely good cost outcomes in Australian Metro Media.

“Group revenue of $873 million was a modest 3% lower than the prior year.”

Net profit of $76.3 million was down 10%, with earnings per share of 3.3 cents. This result reflects the increase in minority interests associated with the separation of Domain from 22 November 2017 and the improved Macquarie Media results.


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