Commercial radio networks have featured prominently in Business Review Weekly’s ‘Top 500 Public Companies’.
As part of the assessment, BRW notes: “Media stocks have also fallen out of favour for several years, and although their revenue was up only 1.8% in the latest results, market capitalisation increased 39% – clearly in anticipation of better profits in 2004 because of rising spending on advertising.”
Despite the four banks, Telstra, BHP Billiton, Rio Tinto, News Corporation and Fosters not surprisingly filling out the top spots, radio networks appear high and frequently in the elite grouping. In fact, five of them are in the top 150.
APN News & Media (joint owner of ARN) is in 69th place, with a favourable net profit change (NPC) of almost 9%, while Rural Press (Star Broadcasting
Network) has moved up five places to #92, with a 23% NPC and revenue of more than $2.5m.
At #103, West Australian Newspapers enjoyed a 16% net profit change and almost 10% increased revenue.
Southern Cross Broadcasting has jumped 10 places to 127th, on the back of 33% NPC and close to 12% higher revenue, while Austereo comes in at #131.
RG Capital Radio is rated at 260, with 18% net profit change and 7% increased revenue.
For the full listing of BRW’s top 500 public companies, click on the link below.