“Fairfax Is In Great Shape” Says Greg Hywood, As Company Posts $83.9 Million Profit
Fairfax Media has reported an $83.9 million profit for the last financial year despite its revenue from print advertising continuing to decline.
The company’s profit result is a big turnaround from the $893.5 million net loss it posted in FY16.
However, the results also showed that Fairfax’s overall revenue fell 4.8 per cent to $1.74 billion in the 12 months to 30 June 2017, while its earnings before interest tax, depreciation and amortisation were down 4.3 per cent to $271.1 million.
Furthermore, advertising revenue for Fairfax’s metro publishing division – which includes The Sydney Morning Herald, The Age and The Australian Financial Review – was down 17 per cent.
Fairfax’s real estate arm, Domain, experienced an 8.1 per cent rise in revenue to $320.3 million during FY17, with digital revenue up 18.8 per cent, while print ad revenue was down 12 per cent.
Meanwhile, Fairfax’s SVOD joint venture with Nine, Stan, is witnessing 150 per cent year-on-year growth in subscription revenue, with close to 800,000 active subscribers.
“Today’s result shows Fairfax is in great shape,” CEO Greg Hywood said in a statement to shareholders.
“We have delivered strong value for shareholders through growth and transformation initiatives. The strategy we commenced five years ago has successfully maximised cash flows of our publishing assets, and with that, built growth businesses in Domain and Stan.
“Our three publishing businesses are modern, cost-efficient and sustainable across digital and print. In the context of the global structural change impacting upon the media industry, the fact that our publications remain profitable and sustainable is an outstanding achievement.”
Fairfax also revealed that it plans to retain 60 per cent of Domain once it is listed separately on the ASX, with the remaining 40 per cent to go to Fairfax shareholders.
The company expects Domain shares to commence trading in mid to late November, while Nick Falloon has been elected chairman of the real estate business.
Please login with linkedin to comment
Advertising Standards Bureau Creative Pitch Greg Hywood Interior VirginLatest News
Sunday TV Ratings: Tommy Little Makes X-Rated Joke On The Hundred With Andy Lee Christmas Special
If there was ever a time to give up on life & revert solely to the couch, it has to be the coming six weeks of summer.
The Clock Is Ticking On Cannes In Cairns Super Early Bird Tickets
As we know, the early bird gets the worm. That said, had the worm stayed in bed, he wouldn't have become breakfast.
B&T’s Campaign Of The Month November 2023 – Innocean’s Powerful White Ribbon Work
The B&T brains trust has got together to award November's ad of the month. And trust us, there ain't a heap of brains.
X Adds 10 Million Users In A Week & Reinstates Conspiracy Theorist Account
In possibly further confirmation that there's no such thing as bad press comes news of Twitter's audience booty.
Samsonite Proves Its “Seriously Tough” In New Campaign From TRP
Why does B&T feel that Schapelle Corby would be the perfect brand ambassador for Samsonite travel luggage.
Industry Endorses New Nielsen Solution To Total TV & Cross-Platform Measurement Delivery
Are TV numbers your thing? Then mark this a must-read. However, B&T's not excluding radio or outdoor people either.
“Not Often I See One Of These In The Wild” – Adam Ferrier Praises Amazon’s Christmassy OOH
Here's a fun bus stop activation from the guys at Amazon. B&T can confirm that Jeff didn't catch said bus.
Greenpeace Mauls Unilever’s Dove Over Terrifying Use Of Plastics
Global soap brand asked to clean up its act. Yes, that's about the best play on words you're going to get today.
Reports: Police DID Receive Allegations Against Alan Jones
You can now add Alan Jones to both Bruce Lehrmann & Ben Roberts-Smith for dreadful stories that just won't go away.
UNE Launches School Leaver Campaign Via Engine Group
Is 2024 the year of the "brilliant new you"? This uni ad could resonate, as could a pack of Schwarzkopf hair dye.
Morgan Stanley: Retail Media Will Steal $1.1b From Aussie Media Owners
Work in traditional media? Had a really shit 2023? Feel the knife twist a little more with this latest ad spend data.
Yes, It’s Ronan Keating! Yes, It’s A Funny Christmas Beer Ad!
Yes, we're breaking B&T's editorial charter today as we overrule "rule four, chapter 13 - never let Ronan Keating sing."
Eagle Eye’s Jonathan Reeve On How Retail Marketers Can Use Technology To Transform Christmas
Hoping to squeeze that extra dollar out of your Christmas customer? Put the wring into the cha-ching with this news.
Gumtree Appoints G Squared To Drive Search
Gumtree appoints G Squared to drive search. And that's despite the "no hawkers or canvassers" sign on the front door.
“Maybe Stop Having More Kids With People You Just Met” – Tammy Hembrow Roasted By Followers After Announcing Engagement
Think the daily news cycle is slowing down pre-Christmas? Confirm it with this D-grade celeb rubbish.
New Business Wins For We Scout
Indie comms agency We Scout announces new business wins. Well, you'd hardly announce new business losses, would you?
Dentsu Forecasts 2024 Global Ad Spend To Grow By 4.6%
Latest dentsu report looks promising for global ad spends overall. It's looking far less promising for Alan Jones.
JOLT Partners With Polestar On New Campaign Debunking “Range Anxiety”
EV charging station JOLT unveils "range anxiety" campaign. Yet, nothing on EV owners boring everyone to death.
Zenith Wins Superloop’s Media
The Zenith Christmas party set to be a wholly more bawdy, jolly soirée after agency nabs end-of-year win.
Acast Total Payout To Podcasters Surpasses $30M
Yes, AI's been grabbing all the headlines over the past 12 months, but read on as podcasting says "hold my beer".
Doritos Champions Infamous Orange Dust In New Campaign Via VaynerMedia, TRIO & Mango Communications
There's three absolute givens at any B&T bash - the Jatz, the Dorito and the fruity lexia.
Alan Jones Threatens To Sue Nine Papers Over Indecent Assault Allegations
Why does B&T get the feeling that Alan might actually enjoy a stint in an all-male prison?
Adobe: Calming Rhythms, Nostalgia & Wonder & Joy Set To Dominate Creativity
Be first to read the Adobe Creative Trends 2024 Report here. And there's sparse news for fans of the knickerbocker.
Archibald Williams Wins NBA Digital, Activation & Fan Engagement Accounts For APAC
Independent brand and digital agency, Archibald Williams (AW) has been appointed to lead the NBA account across the APAC region. The NBA is one of the most prestigious sporting leagues in the world and basketball is one of the fastest-growing sports in Australia. Effective immediately, AW said it was “excited” to work across all digital, […]
Tennis Bad Boy Nick Kyrgios To Create New Athlete Content On OnlyFans
Tennis brat takes time off from embarrassing the nation to reveal new social media initiative.
Before Adland: The Media Store’s Sam Cousin’s Journey From Parisienne Nanny To Chief Strategy Officer
B&T's shining a light on industry folk prior to adland. Preference given to anyone purporting actual UFO abduction.
Thursday TV Ratings: Seven’s Big Bash Debuts To Sluggish 318K
The fact that it's December, meteorologically confirms summer is officially here. Cricket just gives it a nudge along.
Spotify CFO Walks As Problems Grow For Streaming Giant
Spotify CFO heads for the Spotify exits. Has requested "Don't You Forget About Me" as preferred leaving song.
TV Reporter Gives Withering Takedown After Being Fat Shamed Live On Air
Haven't yelled "you go, girl" for some time now? Clear the throat and ready the fist pumps with this overnight news.
BBC Presenter Left Red-Faced After Sticking Middle Finger Up LIVE-ON-AIR!
B&T warns this article contains gesticulations readers may find offensive. Yet, nothing you don't see driving every day.
QMS Champions Creativity As First Most Contagious APAC 2023 Sponsor
Leading digital outdoor company QMS has announced it is the first-ever inaugural partner for Most Contagious APAC, the landmark London event by creative and strategic intelligence company Contagious, which will be showcased in Australia on Tuesday, 12 December in Sydney and Wednesday, 13 December in Melbourne. Most Contagious is an event that delivers key advertising […]
OMG’s Annalect First To Get Meta’s Advanced Analytics
Omnicom’s data and analytics division Annalect has partnered with Meta, giving it access to Advanced Analytics (AA) – one of Meta’s privacy-focused measurement solutions – to provide Omnicom’s clients with future-proof, next-level measurement. Omnicom is the first holding company to have access to AA. AA allows advertisers to combine their first-party data with Meta’s ads […]
Foxtel Wins Exclusive Multi-Year Rights Extension With International Cricket Boards
Are you such a weird cricket tragic you even watch games when NOT played in Australia? Foxtel has exciting news for you.
News Corp Launches One-Off Taylor Swift Mag Ahead Of Aussie Tour
Thought we'd reached peak Tay Tay overload? News Corp declares "f@ck that" with a new print iteration.
It’s Quiz Time: Team B&T Got 100% – Can You?
Take B&T's Friday trivia, outrageously cheat, & go into the draw to win a $100 booze voucher! Alcohol & con artistry!
AKQA Launches Eco-Conscious AI DIY Assistant Encouraging People To Gift More Sustainably
WPP’s AKQA has launched Fixmas.gift, an environmentally conscious AI-powered DIY assistant, affectionately known as Fixie, for a one-stop solution for all things repair. Fixmas.gift hosts an array of guides and inspiration to empower people to prolong the lives of their belongings or purchase pre-owned items that need a little love and care. Fixie can: Help […]