SCA’s profit falls 21% after ‘under-performance’ of 2Day FM breakfast

Southern Cross Austereo’s revenue for metro radio fell 3.0% to $121.4m in the first half of the 2018 financial year, with the company citing the struggling Sydney breakfast show as the reason for the decline.

Overall NPAT [net profit after tax] also fell 21.2% from $48.5m in the first half of FY17 to $38.2m, the company said in an ASX update today.

SCA: Working to improve its balance sheet

EBITDA [earnings before interest, tax, depreciation and amortisation] for metro radio was also down 12.3% from $30.9m compared to the end of the first half of FY17 to $27.1m. Overall EBITDA also fell 15.7% from $347.8m to $324.8m.

Be a member to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Become a member

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella newsletter now.

"*" indicates required fields

 

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing.