(Reuters) - Australia's biggest newspaper publisher Fairfax Media Ltd <FXJ.AX> said underlying first-half net profit fell 10 percent as a pickup in digital earnings, particularly from its spinoff Domain, failed to offset a downturn in advertising revenue.
Net profit was A$76.3 million ($60.13 million) for the six months to Dec. 31, the company said on Wednesday, compared with a net profit of A$84.7 million a year ago.
The publisher of The Sydney Morning Herald, The Australian Financial Review and other mastheads declared a dividend of 1.1 cents per share, compared to 2 cents from a year ago.
Domain Holdings <DHG.AX>, in which Fairfax holds a 60 percent stake following the spin-off, reported a rise in revenue in its first months as a standalone company.
Domain's digital revenue rose 22 percent, the company said.
However, revenue from Fairfax's Australian Metro Media division, which includes its biggest newspaper titles, fell 9 percent while publishing advertising revenue declined 15 percent.
Like many newspaper companies around the world, Fairfax has experienced a sharp decline in advertising revenue as readers opt for cheaper online content, while advertisers also focus their spending on global internet platforms such as Facebook and Google.
(Reporting by Ambar Warrick in Bengaluru; Editing by Byron Kaye and Diane Craft)
