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(From The Dominion Post)
AUSTRALIAN publisher John Fairfax Holdings yesterday upgraded its full-year earnings' forecast for its New Zealand business to $140 million on the back of strong trading conditions.
At its annual meeting in October, the company said its New Zealand operations, which include The Dominion Post, would easily exceed the $130 million earnings before interest, tax, depreciation and amortisation forecast at the time of acquiring the publishing assets of Independent Newspapers on July 1.
Chief executive Fred Hilmer told analysts in Christchurch yesterday that half-year earnings would be at least $75 million to December 31.