Fairfax's NZ unit posts 12% fall in earnings as print ad sales decline

Thu, 18 Feb 2016

By Paul McBeth Feb. 19 (BusinessDesk) - Fairfax Media's New Zealand division posted a 12 percent drop in first-half earnings as the publisher of stuff.co.nz and the Dominion Post, Press and Sunday-Star Times newspapers said gains in its online revenue didn't offset the ongoing advertising decline in its traditional print publications. Earnings before interest, tax, and depreciation fell to $30.3 million in the six months ended Dec. 27, from $34.4 million a year earlier, the Sydney-based company said in a statement. Sales from its New Zea...

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