Sydney-based Fairfax Media has reported a net profit of A$282m for the year ended 27 June, compared to a loss of A$380m last year.
The Australian newspaper publisher, whose titles include the Sydney Morning Herald, the Age and the Australian Financial Review, said that tight cost control helped it to offset the decline in advertising revenue, particularly in the first half of the year.
Although the company's revenue increased by more than 5 per cent year-on-year during the second half, overall revenue for the whole year fell from A$2.6bn last year, to A$2.48bn.
Fairfax added that increased spending by Australia's mining sector during the second half of the year has brought in more advertising revenues for the media company.
The media company also proposed a new organisational structure, which will help it share content across all its platforms as well as benefit from integrated selling.
