Profit forecast up for Macquarie Radio Network

5 May 2010 · News

Macquarie Radio Network has advised the stock exchange that it expects to improve its profit this year.

MRN now expects to report earnings (EBITDA) of over $9.5 million by the end of the financial year, up from previous profit guidance of $8 million. The good news is a result of “strong sales this quarter.”

Early indications from MRN’s latest venture, 3MTR in Melbourne, are that advertising support for the new station has begun at a rate that is better than expected.

Chairman Russell Tate indicated that 3MTR also intends to apply for a power increase to its new 1377 AM service, although this may take longer that expected considering such decisions require a mandated planning and modelling process to take place within the ACMA before a decision is made.

 

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