‘Major digital investments are complete’: Profits plummet at SCA, but LiSTNR set to break even

The advertising markets “remain challenging” across the broader media industry, as SCA reported a 71% net profit dive, although there is light at the end of the tunnel, as LiSTNR is poised to become a big earner.

Southern Cross Austereo reported a modest revenue drop of 2.9% for the first half of FY24 , although EBITDA fell from $44.1 million to $31.1 million, a 29.5% dive.

Net profit after tax was just $4.4 million for the half, compared to $15.4 million for the same period the previous year – down 71.1%.