Rescaling printing operations for Fairfax Media's metro newspapers helped sustain profitability, chief executive Greg Hywood says.

Meanwhile the group is looking to growth from its Domain real estate brand and events division for growth after a 3.9 per cent fall in underlying net profit.

Fairfax reported a 201-15 profit of $143.4 million after tax and a 5.3 per cent fall in revenues to $1.88 billion, with the addition of "significant items" bringing full-year net profit was down to $83.2 million. Earnings before interest, tax, depreciation and amortisation of $202.4 million were down from $371.3 million in the prior corresponding period.

Hywood says Domain is a key area for growth, with a 45 per cent increase in revenue for the year. "Overall revenue grew 0.3 per cent," he says.

"Through organic growth initiatives and acquisitions we are moving to a position where the growth in our digital revenue offsets the decline in print."

Fairfax is investing in its growth businesses and ventures, including Domain, Life Media & Events, and video streaming joint-venture Stan, which it shares with Nine Entertainment. Stan has now registered more than 300,000 paid subscribers and was "well on track" to have 300,000-400,000 active subscribers by December. Hywood says Fairfax has also built "one of the largest events businesses in the country" in two years, with revenue up 41 per cent year-on-year.

Revenue from Australian Community Media declined 7.8 per cent, with advertising down 9.1 per cent, with declines in employment and automotive contributing factors.

The New Zealand media business was also down, with advertising falling six per cent for the year in local currency terms.