Fairfax Media reverses slide in NZ earnings as cost cuts offset drop in ads, circulation

Thu, 14 Aug 2014

By Jonathan Underhill Aug. 14 (BusinessDesk) - Fairfax Media Group reversed a slide in earnings from its New Zealand business as cost cutting helped make up from a continued decline in advertising and circulation. Earnings before interest, tax, depreciation and amortisation rose 3.1 percent to $80.2 million. Costs fell 7.3 percent to $318.6 million, making up for a 5.4 percent decline in revenue to $398.9 million. Advertising sales in the year fell 5.2 percent to about $269 million while circulation declined 6.6 percent to $117.9 million....

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