Harvey Norman, Coles and Myer are not the only ones doing it tough with Fairfax Media now announcing that they too expect to post a loss in revenue for the second half of the 2011/2012 fiscal year.
According to new reports, difficult trading conditions will force their revenue down by 8 per cent to June 30, down to $500 million from $607 million this time last year.
“At the half year results, announcement on 23 February, I advised that January 2012 revenues were 7.5 per cent below the corresponding prior period and that the difficult trading environment was likely to continue,” chief executive Greg Hywood said.
“This trading environment has continued.”
