Fairfax Media full year net profit up

Fairfax Media has reported a turnaround to full-year profit, and the company says it is well placed for further growth in the year.

Fairfax Media has returned a net profit of 282 million dollars in the 12 months to June 30, up from a loss of 380 million dollars in the previous year.

The media company's rebound to profit comes despite a 4.5 per cent drop in revenue to 2.48 billion dollars, down from 2.6 billion dollars.

Fairfax has declared a final dividend of 1.4 cents a share, fully franked.