Fairfax NZ returns to profit in 2017 as redundancy costs, impairment charges tumble

Fairfax NZ returns to profit in 2017 as redundancy costs, impairment charges tumble
Paul McBeth
By Paul McBeth Dec. 5 (BusinessDesk) - Fairfax New Zealand, which trades under the Stuff moniker, was back in black in 2017 after the cost of laying off staff tumbled by 80 percent and as a $100 million-plus impairment charge on the value of its newspaper mastheads and buildings a year earlier wasn't repeated. The Wellington-based media organisation reported a profit attributable to ASX-listed parent Fairfax Media Group of $18.2 million in the 12 months ended June 30, turning from a restated loss of $56.1 million a year earlier when the p...