Australia's Fairfax Media Ups Annual Profit By 16%

24 August 2007

SYDNEY: Fairfax Media, one of Australasia's leading multimedia corporations, posted a 15.9% profits hike for the fiscal year ended June 30 - or expressed in folding money, A$263.5 million ($211.93m; €156.58m; £106.41m).

The publisher of The Sydney Morning Herald, The Age and The Australian Financial Review, also reported underlying EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) up by 13.1% to $571.4m.

Said ceo David Kirk: "Strong performance in our digital businesses, regional and rural publications, financial publishing, and magazines more than offset ongoing economic weakness in the greater Sydney metro market and in New Zealand."

Data sourced from Sydney Morning Herald; additional content by WARC staff