SCA's revised profit guidance for investors | radioinfo.com.au

SCA's revised profit guidance for investors

Tuesday 23 May, 2017

Southern Cross Austereo has slightly downgraded its earlier advice to investors as to profit.

Earnings before interest, tax, depreciation and amortisation (EBITDA), it told the ASX in a statement, is now expected to come in at around $168 million, down from between $177 - $183 million.

SCA shares fell by 7c, to $1.22 on the news of the downgrade.

In its statement to the ASX the media organisation blamed the fall on softer than expected sales in television and metro radio markets - although regional radio continues to grow but at a slower rate than recent years. 

Details of the sale of some television assets to Bruce Gordon’s WIN Corp have also been confirmed.

WIN will pay SCA a total of $55m over 12 months for a footprint covering a triangular region from Newcastle to the Gold Coast and out to Tamworth.

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