FAIRFAX MEDIA  LIMITED  2013  75 NOTEs TO THE FINANCIAL sTATEMENTs  5. DIsCONTINUED OPERATIONs FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013 On 21 December 2012, the Group disposed of its remaining 51% interest in Trade Me Group Ltd for proceeds of A$605.5 million  net of transaction fees. The Trade Me business had its own operating segment within the segment reporting disclosures (refer Note 37). As at 30 June 2013, the Trade Me business has been classified as a discontinued operation. The financial information presented  below is for the period ended 21 December 2012 and the comparative period is for the year ended 24 June 2012.  *  The gain on sale is associated with the disposal of the Group’s 51% interest in Trade Me Group Ltd. Previous disposals of the Group’s  interest in this entity have resulted in a gain on sale of $182.8 million recorded in equity as an acquisition reserve while the Group still  retained control. 2013 $’000 2012 $’000 Total revenue and income  60,871   114,243  Share of net profits of associates and joint ventures  –   435  Expenses  (21,229)  (34,694) net profit before income tax expense  39,642   79,984  Income tax expense  (11,205)  (21,002) net profit after income tax expense  28,437   58,982  Gain on sale of discontinued operations *  283,444   –  Income tax expense  –   –  net profit from discontinued operations after income tax expense   311,881   58,982  2013 ¢PeR SHARe 2012 ¢ PER SHARE earnings per share  Basic earnings per share from discontinued operations  13.3   2.5  Diluted earnings per share from discontinued operations  13.3   2.5  2013 $’000 2012 $’000 Cash flows of discontinued operations The net cash flows incurred by discontinued operations are as follows: Operating  27,010   56,489  Investing  (4,020)  (21,275) Financing  (26,894)  (9,393) net cash (outflow)/inflow  (3,904)  25,821