Parkour group in Parramatta. PHOTO: WOLTER PEETERS 

Businesses such as Domain continue to go from strength to strength. Domain grew the number of real estate agents with listings by 21 per cent. Digital growth was a highlight, with investment in mobile apps paying off in strong performance. At Fairfax we have exposure to more than $300 million of real estate-related revenue, and we have the brand, the expertise and the commitment to build the Domain business. 

During the year we announced a new organisational structure, one element of which is the consolidation of our core publishing activities into the new Australian Publishing Media division. This division is led by Allen Williams, who previously ran our New Zealand business and before that held several senior positions in the Company’s regional operations. The formation of Australian Publishing Media allows us to reduce duplication through a more ordered grouping of our businesses and activities, and to drive additional revenue by leveraging our core business – news, business media, lifestyle and community media – and extensive portfolio of media assets. 

We have also formed a Digital Ventures unit, with a new management structure that is empowered to deliver the full potential of our digital transaction businesses such as Stayz and RSVP. These are both market-leading transactions businesses that generate strong margins. 

THE SYDNEY MORNING HERALD PHOTOS 1440 

We are confident our strategy will deliver the best outcomes for our shareholders, customers and our audiences. 

## undeRlyinG eBiTdA 

excluding businesses divested 

$315.7m 

## CASHFloW FRoM TRAdinG 

$377m 

