Profit up for SEN and MyMP | radioinfo

Profit up for SEN and MyMP

Saturday 22 February, 2014

Reduced operating costs have genereted a 62% profit rise for Pacific Star, the owner of SEN and MyMP in Melbourne.

The listed company has reported flat revenue of $7.7 million in its interim financial report, with profit from ordinary activities, before tax, up 62% to $785,000. Pacific Star paid a dividend of 0.7 cents per share. Operating costs were down 3.4%. Pacific Star also publishes sports magazines.

Chairman Andrew Moffatt reported to shareholders:

In the radio division, the first trading quarter got off to a strong start and it was pleasing that SEN recorded it’s highest ever trading revenue of $1.5 million for the month of September, however, with the uncertainities brought about by the Federal election and its impact on business confidence, this influenced our second quarter revenue and results for that period were disappointing.
Overall, revenue was flat for the first half but the division delivered an improved EBITDA result of $1.24 million, up 19% on the comparative period (2012: $1.04 million). This improved result was achieved by reducing operating costs and curtailing trading losses in the MyMP radio station.
 
Inside Football magazine was further integrated with the SEN brand by renaming the magazine SEN Inside Football. This publication also delivered an improved result by containing operating costs. We have plans to continue developing and promoting this product in a digital format. After forty years,
Inside Football remains the only independent AFL weekly magazine published across Australia.
Commenting on future trading conditions, Moffatt said: "Consumer and business confidence remains subdued and it remains difficult to predict trading conditions over the longer term."

 
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