Fairfax NZ posts first annual loss in four years in 2016, resumes dividend payments

Wed, 11 Jan 2017

By Paul McBeth Jan. 12 (BusinessDesk) - Fairfax New Zealand posted its first annual loss in four years as it wrote off than $100 million from the value of its mastheads and buildings and more than doubled its bill to pay out redundancies in 2016, all while resuming dividends to its Australian parent and lifting executive pay. The Wellington-based unit of ASX-listed Fairfax Media Group reported a loss of $75.3 million in the year ended June 30, 2016, turning around a profit of $21.9 million a year earlier and marking the first time the bo...

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