‘Incurred significant costs’: Failed SCA takeover eats away ARN’s first-half profits

Australian Radio Network has delivered a 4% revenue jump and a 10% increase of earnings, due to “resilient” advertising revenue in a struggling market. But the costs involved in the failed SCA takeover took a chunk out of net profits.

ARN’s group revenues increased by 4% on a pro forma basis and 1% on a reported basis, reaching $168.1 million, while EBITDA increased by 10% (on a pro forma basis), although it remained flat on a reported basis at $35.5 million.