Prime posts profit after tax of $4.5m, down 56.2%

Profits have plummeted at Prime Media Group, with the media business reporting a statutory profit after tax of $4.5m, down 56.2% and a core net profit after tax of $5.5m.

For the first half of the financial year the company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 47.4% on the prior year, dropping to $11.5m.