Fairfax Media downgrades profit forecast
Updated at 7:15 am on 13 June 2012
Fairfax Media says poor trading conditions have forced it to lower its profit estimates.
The listed company whose New Zealand titles include The Dominion Post and the Sunday Star Times says if the current conditions continue, its pre-tax earnings will be about A$500 million.
It says cost cutting has so far saved A$40 million.
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