Austereo kicks off big Results’ Week

It is a big reporting week of financial results for radio broadcasters.

Austereo, which operates the Today and Triple M networks, gets the ball rolling today with an announcement of its full year results.

Analysts are predicting a net profit of $47-$48 million.

On Wednesday, Southern Cross Broadcasting will unveil its full year results. A positive outcome, similar to Austereo, is expected.

Thursday will see the release of results for Rural Press, with a net profit of more than $82 million anticipated. Also on Thursday, results are due out for Village Roadshow (Austereo’s majority shareholder).

Already, in recent times, West Australian Newspapers and APN News & Media have announced profit rises of more than 20% and are talking up the outlook for the next quarter.

Media buyers have been impressed by the radio industry’s performance in the past six months. Many are predicting the market will grow 7-10% this year.

In the first half of 2004, radio revenue has grown more than 15%.