Southern Cross Austereo has released the 2016 Half Year results showing a 25% leap in profits.
“We’re delighted that we’ve been able to accelerate the balance-sheet repair and get to a position where the company is financially sound,” Mr Blackley, who joined Southern Cross in June, told Fairfax Media.
Highlights included:
- Advertising revenue up across metro and regional media assests.
- Net debt reduced.
- Interim dividend increased from 3.00 cents per share to 3.25 cents per share.
“These results demonstrate material progress in the operational turnaround of SCA.”
Overall, Southern Cross reported a 25.1 per cent jump in net profit to $43.4 million, with revenues increasing 4.7 per cent to $322 million.
Read more here.
'Hit revenue flat but trending up', this does not make logical sense.
Why do companies think they can get away with printing such nonsense?
If your revenue is flat, it's not trending up. If it's trending up, it's not flat.