As radio reporting season continues, Macquarie Radio Network has today announced its financial results for the year ended 30 June 2014.
Operating revenues were down 2% on the prior year to $56.5 million. Total revenues and other income down 6% on prior year to $56.9 million.
Underlying EBITDA was down by 7% on the prior year to $10.5 million, with reported EBITDA (the statutory figure required by teh Stock Exchange) down by 27% on prior year to $10.4 million. The prior year included one-off net revenues totalling $3.1 million).
Underlying net profit before tax was down by 8% on prior year to $8.8 million. Reported NPBT down by 29% on prior year to $8.7 million.
“The Sydney radio market grew by over 2% in the financial year and our operating revenues were actually down on prior year. A comprehensive review of our sales and marketing