Fairfax, Australia’s second-biggest newspaper publisher, has reported its half-yearly results, and it earnings declined 2.7 percent on weak ad demand in its major markets. Earnings fell to A$121.4 million in the six months ended Dec. 31, from A$124.8 a year ago...A gain of A$13.2 million from the sale of the company’s stake in Carsales.com.au helped increase net income 19 percent to A$142.2 million.
It’s online unit increased earnings by 42 percent to A$15.6 million in the half, from A$11 million a year earlier. The company’s online businesses contributed 13.7 percent of earnings, up from 6.3 percent in financial 2006.
Trade Me, New Zealand’s biggest auction site which the company bought a year ago for A$770 million, contributed NZ$23.3 million in earnings before interest, tax, depreciation and amortization in the half. Fairfax said the unit should meet its forecast NZ$45 million for the year ending March 31.