Fairfax's NZ annual earnings fall 7.7% as cost cutting focus remains

Wed, 16 Aug 2017

By Paul McBeth Aug. 16 (BusinessDesk) - Fairfax Media Group's New Zealand business, which is appealing a rejection of a proposed merger with rival NZME, posted a 7.7 percent fall in annual earnings as print advertising revenue shrank faster than the newspaper and online news publisher could cut costs. The Sydney-based company's New Zealand division posted earnings before interest, tax, depreciation and amortisation of $55.5 million in the 12 months ended June 30, down from $60.2 million a year earlier, as revenue shrank 7 percent to $325....

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