SCA has announced its financial results for the year ended 30 June 2021, and while revenue was down slightly by 2.2%, net profit after tax was up by 91.6% to $48.1M.

Net debt was down to $53.0M from 132.0M last year, and the EBITA of $125.9M was up by 16.4% from $108.2M allowing the company to pay a fully franked dividend on 5.0 cents per share.

CEO Grant Blackley, says: “With debt at historically low levels and a leaner operating model, these results put us in a strong position to invest for the future as well as to resume fully franked dividends to our shareholders.

“The launch of LiSTNR in February was an exciting moment for SCA, and our progress since launch has only added to the excitement. LiSTNR is scaling quickly with a growing community of signed-in listeners exploring and enjoying the range of premium live and on-demand audio content. Listening to podcasts has grown 200% in the five months since launch and, from a zero base, listening to live radio now matches podcast consumption. We expect this momentum to support further growth of 75% to 100% in digital revenues during FY22.”

Blackley says the company’s “Australia wide network of 99 AM, FM and DAB+ radio stations remains the creative core of SCA, but with a new digital-First mindset.”

SCA has also reached a provisional agreement with Google to join Google News Showcase, and while the partnership will not have a material impact on SCA earnings, it is expected to support their digital news journalism.

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