HT&E have released their half-yearly report showing that the Group radio revenue is up by 7% to $151.4M  and EBITA is up by 11%.

The acquisition of 46 regional radio stations from Grant Broadcasters into ARN Regional completed on 4 January 2022 is performing above expectations and delivering margin expansion.

The integration programme is ahead of schedule and continues to gather momentum with ARN Regional radio revenues up 11%, delivering material cut through to EBITDA which is up 21%.

4KQ in Brisbane was sold to SEN for $12.0 million during the period; required by the ACMA as part of the ARN Regional acquisition.

ARN metro radio revenues of $97.2 million rose 5% on the prior period and EBITDA grew 4% to $31.4 million. 

For the company there has been an overall improvement on revenue of 58% to $172M for the same period in 2021.

Total group costs were up 57% to $130.3 million from $83.0 million with $35.8 million of that ARN Regional related

The strength of HT&E in the local audio market continued, with ARN holding the #1 FM metropolitan radio network position in Australia for twenty-one consecutive surveys.

Ratings leadership was also achieved in key regional markets of Gold Coast, Mackay, Cairns, Bundaberg, Ipswich, Darwin, Launceston, Gympie and Ballarat.

HT&E group revenues from ordinary activities of $172.0 million increased 58%, and underlying NPAT of $24.6 million rose 69% on the prior period, owing to the acquisition of ARN Regional.

Shareholders will benefit from a 5.0cps interim dividend.