Fairfax Media says cost reductions have helped boost earnings in New Zealand.
Operating earnings rose 3% to $191.6 million in the year to June, despite the economic downturn affecting the real estate and employment advertising market since the beginning of the year.
Operating earnings at Trade Me, its online auction operation, rose 39% to $70.1 million.
Fairfax New Zealand chief executive Joan Withers says the year got tough in the second half and next year is expected to be the same.
Overall, the company saw its full year profit rose 48% to $A386.9 million, helped by its online media business.
Fairfax merged in 2007 with Rural Press.