Fairfax Media has announced an interim profit after tax and Stapled Preference Share dividend of $165.4 million, an increase of 15% on last year. Company revenue increased 3% to $1.3 billion, with EBITDA up 7% to $347.0 million.
Net Profit after tax and SPS dividend increased 15% to $165.4 million and Earnings per share of 7.0 cents, was up 15%. The interim dividend increased 36% to 1.5 cents per share, fully franked.
New Chief Executive and Managing Director Greg Hywood said when announcing the results:
“This is a pleasing result for Fairfax Media. It reflects a strong performance focus across our diverse media and digital
assets. When measured on a constant currency basis, both revenue and EBITDA have increased 4% and 8% respectively. Revenues, when adjusted for currency movements, have grown across all business segments. Combined with strict cost disciplines this has generated stronger earnings for the half.”
Radio revenue was up by $2 million, an increase of 3.8%, but cost increases ate up the profit for the radio broadcasting division this year.
“Broadcasting recorded solid revenue growth as radio advertising markets rebounded. Cost increases associated with promotion activity and property relocation resulted in a slightly lower profit performance,” said Hywood.
Click the link below for the full results presentation.
