Business Services Industry
Fairfax reshaping, needs time.
Australasian Business Intelligence, August, 2006
Byline: Neil Shoebridge
Aug 31, 2006 (The Australian Financial Review - ABIX via COMTEX) -- John Fairfax Holdings has announced a 3.8 per cent fall in net profit during 2005-06, which was slightly above expectations. Revenue from the Fairfax Digital operation rose 75.6 per cent to $A96.4 million and the Trade Me operation is reportedly on track to achieve $A38 million in EBITDA for the year to 31 March 2007. However, the publisher's CEO, David Kirk, has declined to give clear guidance for the current year and claims various sluggish areas of the economy are placing advertising revenue under pressure. Fairfax shares shed $A0.02 on 31 August 2006, to end trade at $A4.04. The company will provide shareholders with a $A0.115 final dividend, which brings its...
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