Revenue up, Pacific Star in expansion mode | radioinfo

Revenue up, Pacific Star in expansion mode

Sunday 28 February, 2016

Reported half year revenues for SEN parent company Pacific Star increased by 40% to $13.336 million with an underlying EBITDA of $2.318 million, and a net profit after tax result of $1.051 million, before significant items).

The company increased its divend slightly, to pay 1.35 cents per share.

Broadcast revenue increased by about $800,000 on he previous corresponding period, and the big revenue increase was driven by the acquisition of a new publishing business.

Profit (NPAT) was $834,113, double that achieved in the previous period.

 

The company’s broadcast business performed in line with budget for the first half generating an underlying EBITDA result of $1.391 million. For the half year, Melbourne radio advertising revenue grew 3.75% to $119.2 million. The broadcast business share of revenue was up 2.5% over the same period.
 
The company's publishing business generated an underlying EBITDA of $1.251million for the half year, up 66%, but the previous half year only showed EBITDA for one month, so previous period comparisons are not valid for this business unit.

Last month, George Papadopoulos joined the company as Group CEO. Andrew Moffatt is chairman and Graham Mott is heading the radio business, which now has 4 stations, SEN, MyMP, KOOL and Aussie.

The company repeated its wish to acquire more media assets to drive future growth and forecast a "positive outlook" for radio sales.

 

 

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