Fairfax Media says revenue slide likely to lead to 18% drop in annual earnings

Tue, 12 Jun 2012

By Paul McBeth June 12 (BusinessDesk) - Fairfax Media, the Australian media group that's taken charges of more than A$1 billion against its mastheads and goodwill since 2010, says sales continued to slide in its second half of this year, leading to an 18 percent slump in annual earnings. The Sydney-based group, which publishes the Dominion Post, Sunday Start Times and Press in New Zealand, expects earnings before interest, tax, depreciation and amortisation of about A$500 million in the 12 months ended June 30, down from A$607.4 million a ye...

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