Prime Media Group yesterday announced a statutory net profit after tax of $27.7 million for the full year to 30 June 2012, an increase of 1.9% from last year, or $0.5 million.
The regional broadcaster’s group revenue rose 6.4% during the year to $273.5 million, driven by an increase in ratings share for its TV networks and the launch of datacasting channel TV4Me which has created new revenue streams and interest from advertisers.
All the good news seemed to come from the television side of the business, with radio continuing to be a challenge in Queensland with total revenue of $20.7 million, down $0.4 million or 1.9% and core EBITDA down 13.1% to $4.2 million. Prime Radio operates nine stations in Queensland from Sunshine Coast to central Queensland and north to Cairns.
Prime chief executive Ian Audsley has good reason to be jumping for joy about how television is performing. All-station audience share grew to 3.7 points in the 2011-12 financial year and a revenue share growth of 2.8 share points in an advertising market that went backward 1.8%.
In speaking about the ratings success he said, “Prime took out the television rating year in its three aggregated markets of Northern NSW, Southern NSW and Victoria (on a combined total audience basis); and its Western Australian television operation GWN took out the ratings year with a 40.8 share of the all station audience.”