FXJ--28/5 http://www.patersonord.com.au/industrialviews.cfm?mode=view&newsid=2063#newsitem
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John Fairfax Holdings 28-May-02 00:00
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Yesterday, John Fairfax Holdings (FXJ) announced the outcome of a two-month review of editorial, commercial and circulation, and distribution. Essentially, it appears the restructuring is a reorganisation of management lines of reporting and responsibility in an effort to manage the business more effectively. There are no significant cost savings in this announcement. The restructuring primarily reflects FXJ’s desire to grow market share in both classified and display advertising in order to further enhance revenue growth. There is nothing in the announcement to change our view on the company with a mid-cycle target valuation of A$4.30 per share, representing 21% upside from current prices.
Origin Energy, page-2
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