FAIRFAX Media remains confident of its ability to cut costs and generate enough new revenue to avoid a “bleak future” despite seeing its first-half net profit halved.
Investors reacted positively to the results, sending shares up 22 per cent in morning trading to 87c despite the company posting a net profit of $193.8 million, a 49.8 per cent fall from the $386.3m recorded in the previous corresponding period.
Is this type of blind desperation still a culture in Fairfax?? They continue to publish articles that the majority of readers don't want to read & actually puts many readers off that's why they have deserted Fairfax.
What a crying shame they have done this to a great publishing empire that is now just a mouthpiece for the yellow press.
