Fairfax NZ unshackled from debt, gets $76.5 mln injection from Aust parent in 2015

Wed, 16 Dec 2015

By Paul McBeth Dec. 16 (BusinessDesk) - Fairfax New Zealand, the local arm of the Australasian publisher, was unshackled from related party debt and the associated interest costs in 2015, while also receiving a $76.5 million injection from its Sydney-based parent. The Wellington-based New Zealand holding company lifted net profit 71 percent to $22.5 million in the 12 months ended June 30, as finance costs tumbled to $10 million from $51.6 million a year earlier, according to financial statements lodged with the Companies Office. The chea...

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