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Australia's Fairfax Media Ltd said today its first-half net profit rose 37.8 per cent, helped a strong performance at its regional businesses which offset weak markets in major cities.
The Sydney-based publisher said net profit for the six months to December 31 was A$196 million ($227.9 million) compared to A$142 million a year earlier.
Fairfax bought rural media group Rural Press last year, and also agreed a plan to carve up Southern Cross Broadcasting Ltd with Macquarie Media .
Fairfax shares closed at A$4.00 on Wednesday.
The stock has fallen 14.5 per cent so far in 2008, just ahead of a 13 per cent slide in the benchmark index.
- REUTERS
