Fairfax Media has swung to a full-year loss, hurt by its regional and New Zealand operations plus restructuring and redundancy costs, in what may be its last financial results as an independent company.
The 177 year-old media group – in the process of being taken over by Nine Entertainment – reported a net loss of $63.8 million after booking significant items totalling $188.7 million for the year ended June 30, mainly from impairment charges at its regional unit Australian Community Media (ACM), and New Zealand division Stuff.
Fairfax had booked a net profit of $83.9 million in 2016/17.
Underlying annual earnings – which excludes significant items – rose 1.2 per cent to $274.2 million, driven by growth at property listings group Domain and …
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