SCA reports net profit of $27.4m, up 38.4%
Southern Cross Media Group Limited, the parent company of Southern Cross Austereo (SCA), today reported its FY results to 30 June 2022 on the ASX, revealing strong audio audience growth and boosted profits.
The company reported an underlying net profit after tax of $27.4 million, up 38.4% in the financial year ending June 2022.
Good reporting on the positive side. Wondering about the negative though which wasn’t covered.
EBITDA down 32%. Net debt up almost 50%. Revenue down 1.8%. Expenses up 7.7%.
Plus the note that SCA will keep it’s TV stations essentially because they can’t offload them.
The market clearly didn’t react so positively. Take a look at the ASX…
Guess not everyone thought it was positive.