SYDNEY, Aug 16 (Reuters) - Australian newspaper publisher Fairfax Media Ltd (FXJ) posted an annual net profit on Wednesday as it benefited from cost-cutting and an improvement in property listings.
Fairfax, which saw two private equity firms walk away from takeover bids in July, posted a net profit of A$83.9 million ($65.64 million) for the year ended in June, compared with a net loss of A$772.6 million a year ago.
Revenue fell 4.8 percent to A$1.74 billion.
($1 = 1.2781 Australian dollars)
