Fairfax revenue falls in year to date
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Fairfax Media's (FXJ) group revenues for continuing business fell 4% for the January to April 2014 period, compared to the prior corresponding period, as the extended Easter/Anzac Day holiday created a "difficult advertising revenue environment" in April, chief financial officer David Housego told the Macquarie Australia Conference.
Mr Housego said revenue from the Metro Media division, which includes property arm Domain, was down around 7% in the period.
But Domain's overall revenue rose 22% due to the acquisition of Property Data Solutions, moderating declines in print revenues and strong growth in digital listings, he said.
Domain digital revenue rose 44%, with like for like growth of 33 per cent, and digital listings revenue increased 40%, Mr Housego said.
Fairfax reaffirmed its costs guidance for fiscal 2014, saying it expects costs below $1.6 billion.
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