ahlam1399
08-13-2015, 02:16 PM
Australia?s Fairfax Media full-year profit falls 63%
http://img-s-msn-com.akamaized.net/tenant/amp/entityid/BBlHGh1.img?h=100&w=100&m=6&q=60&o=f&l=fAustralian media company Fairfax reported a 62.9 percent drop in full-year profits Thursday, but shareholders welcomed the consensus-beating result amid the challenges facing news organisations in the digital age.Net profit plunged to Aus$83.17 million (US$61.49 million) from a year ago said Fairfax, which owns newspapers, radio and digital interests across Australia.But revenue fell only 5.35 percent to Aus$1.87 billion, beating the forecast of Aus$1.82 billion from analysts surveyed by Bloomberg News.Underlying revenue -- excluding the sale of two print plants and closed operations -- rose 0.3 percent to Aus$1.84 billion on the back of a 45 percent increase from Domain, Fairfax's real estate division."Fairfax has today reported top-line growth for continuing businesses for a full year for the first time in eight years," chief executive Greg Hywood said in a statement."Through organic growth initiatives and acquisitions we are moving to a position where the growth in our digital revenue offsets the decline in print."We are investing in our growth businesses and ventures -– which include Domain, Life Media & Events, as well as subscription video-on-demand service Stan."Investors cheered the consensus-beating results, and Fairfax shares closed 4.91 percent higher at 86 Aus cents.The Australian media group -- which own metropolitan newspapers The Sydney Morning Herald, The Age and The Australian Financial Review -- is facing similar challenges as international peers with print advertising and circulation revenues falling.It has restructured operations to become more digital-facing and cut thousands of jobs over the past few years.Fairfax declared a final dividend of two cents for a total payout for the year of four cents.
http://img-s-msn-com.akamaized.net/tenant/amp/entityid/BBlHGh1.img?h=100&w=100&m=6&q=60&o=f&l=fAustralian media company Fairfax reported a 62.9 percent drop in full-year profits Thursday, but shareholders welcomed the consensus-beating result amid the challenges facing news organisations in the digital age.Net profit plunged to Aus$83.17 million (US$61.49 million) from a year ago said Fairfax, which owns newspapers, radio and digital interests across Australia.But revenue fell only 5.35 percent to Aus$1.87 billion, beating the forecast of Aus$1.82 billion from analysts surveyed by Bloomberg News.Underlying revenue -- excluding the sale of two print plants and closed operations -- rose 0.3 percent to Aus$1.84 billion on the back of a 45 percent increase from Domain, Fairfax's real estate division."Fairfax has today reported top-line growth for continuing businesses for a full year for the first time in eight years," chief executive Greg Hywood said in a statement."Through organic growth initiatives and acquisitions we are moving to a position where the growth in our digital revenue offsets the decline in print."We are investing in our growth businesses and ventures -– which include Domain, Life Media & Events, as well as subscription video-on-demand service Stan."Investors cheered the consensus-beating results, and Fairfax shares closed 4.91 percent higher at 86 Aus cents.The Australian media group -- which own metropolitan newspapers The Sydney Morning Herald, The Age and The Australian Financial Review -- is facing similar challenges as international peers with print advertising and circulation revenues falling.It has restructured operations to become more digital-facing and cut thousands of jobs over the past few years.Fairfax declared a final dividend of two cents for a total payout for the year of four cents.