SCA's growth strong, performance ahead of prior year: Half Year results | radioinfo

SCA's growth strong, performance ahead of prior year: Half Year results

Thursday 21 February, 2019

Southern Cross Media Group revenue has grown by 6.7% in the first half of this financial year.

Radio revenue growth and strong cost control resulted in earnings (EBITDA) of $82 million for the first half.

Net Profit (NPAT) grew 10.6% to $42.2 million, in results announced this morning.

Group revenue was up 0.2% to $335.7 million and debt has been significantly reduced.

The company's audio segment (metro & regional radio and podcasting) delivered a 3.7% growth in revenue and over 7.3% profit growth

Metro radio revenue was up 6.7% to $123.6 million, attributed to three factors: improved metro ratings, monetisation of digital stations and premium selling.

In a time of drought, regional radio revenue did not grow as fast, increasing by 0.7% on the previous corresponding period. SCA was pleased at the success of its campaign to make national advertisers more aware of regional markets, with national revenues for regional markets up by 9.2%.

Television revenue was down by $8 million (7.1%) to $104 million.

The company reported a significant number of 'abnormals' relating to write downs of its television transmission licence values, which affect the statutory reporting numbers but not the underlying profit results. See related article.

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