A stellar performance by Trade Me helped boost the earnings of Fairfax Media in a difficult advertising market.
The company says its operating earnings rose 3% to $191.6 million in the year to June.
The online auction website TradeMe accounted for a big portion of the boost, with operating earnings jumping 39% to $70.1 million.
On the basis of that performance, Fairfax paid Trade Me's founders an additional $45 million on the sale.
Chief executive Joan Withers says the company performed well despite tough economic conditions.
Overall, the company saw its full year profit rose 48% to $A386.9 million, helped by its online media business.
