Monday, February 12, 2007

Online gives Fairfax report some shine

Fairfax Media today reported a first-half net profit of $142.2 million for the six months to December 31, 2006, up 18.6 per cent. (Announcements here.)

But excluding one-off items, the company's underlying net profit fell 2.7 per cent to $121.4 million.

Fairfax Digital is the company's shining light lifting revenues 43.7% to $61.2 million, while EBITDA rose 41.7 per cent to $17 million.

And the Trade Me result was pretty good too, with EBITDA of $NZ23.3 million (AUD20.61 million). Those sorts of numbers should help dispel the remaining criticisms around the AUD$625 million price tag.

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