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Fairfax classifieds under cloud
Feb 21, 2013 (The Australian Financial Review - ABIX via COMTEX) --
Fairfax Media has recorded a 2012-13 interim underlying net profit post-tax of $A83m, down 39%. CEO Greg Hywood said the newspaper publisher's Financial Review Group was staging a recovery, with EBITDA of $A4m as opposed to nil previously. However, overall company revenue was 7% lower at $A1.096bn for the half, and the stock closed 2.7% lower at $A0.53 on 21 February 2013. Hywood also foreshadowed possible changes to the underperforming Drive and MyCareer operations, where internet classified advertising for cars and jobs respectively has disappointed.
Publication Date: 22 February 2013
FAIRFAX MEDIA LIMITED - ASX FXJ
DRIVE.COM.AU
MYCAREER.COM.AU
DOMAIN.COM.AU
REA GROUP LIMITED - ASX REA
FINANCIAL REVIEW GROUP
ALLAN GRAY AUSTRALIA PTY LTD
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