Macquarie Media records $14.3m post merger profit

Talkback radio network Macquarie Media has posted a $14.3m profit after tax in its first full results following last year’s merger with Fairfax Radio. 

Macquarie MediaThe radio network, which includes AM talkback powerhouses such as Radio 2GB and Radio 3AW, said the result was in part driven by cost efficiencies achieved from the merger.

“This comparison clearly demonstrates the economic benefits of the merger,” said Russell Tate, chairman of Macquarie Media. “Whilst some further combination efficiencies will be realised in FY17, our primary focus now shifts to driving sustainable revenue growth and building on the 5% year-on-year revenue increases we achieved across the second half of FY16.



“We begin FY17 with a restructured sales management team, and aggressive revenue growth strategies and targets which I am confident will underpin continued strong earnings growth in FY17.”

Total revenue for the group from $135m down 4% while earnings before interest, tax, depreciation and amortisation was $25.4m up 70% but Tate noted that due to the merger the year on year comparison was not relevant.

“The accounting treatment required of FY2015 results renders them meaningless for comparing FY2016 operating performance,” said Tate.

The company declared a final dividend of 2 cents per share fully franked. Shares were up $0.01 or 1.02% as of 12.30pm today.


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